Thangam Thennarasu thanks Centre for instructing RBI to reconsider gold loan guidelines
Tamil Nadu Finance Minister Thangam Thennarasu on Friday (May 30, 2025) thanked the Union Finance Ministry for instructing the Reserve Bank of India (RBI) to ensure its draft regulations on gold loans do not adversely impact small borrowers.
In a post on X, Mr. Thennarasu said the draft gold loan guidelines were anti-poor, hurting small borrowers. Referring to Tamil Nadu Chief Minister M.K. Stalin's letter to Union Finance Minister Nirmala Sitharaman, urging her intervention to advise the RBI to reconsider the proposed restriction in the Reserve Bank of India (Lending Against Gold Collateral) Directions, 2025, Mr. Thennarasu said it is a major victory for people, as a result of the relentless efforts of Mr. Stalin.
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