Recently, Muthoot Finance Ltd announced to offer loans against Gold ETF (Exchange Traded Funds) units as security. The Company claims to be the largest gold finance NBFC in India.An online news portal about business and economy - economictimes.indiatimes.com quotes a statement of Muthoot Finance Ltd Managing Director George Alexander Muthoot about loans against gold ETF units, “loans against gold ETF units was a scheme through which Muthoot Finance plans to venture into a totally new segment of gold financing, which would not only add value, but also enable the company to service the financial requirements of newer customer segments.”Further he adds, “The new scheme would come into force by this month end and would enable the customers to avail finance at the rate of 15 per cent interest against their Gold ETF units to...
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