Muthoot, Manappuram surge on RBI's draft rules for payments banks

Tags: Companies
Shares of non-banking financial companies, which take gold as collateral, surge after the central bank issued draft guidelines for those seeking a licence to set up a payments banks or a small bank.

Muthoot Finance Ltd surges 6.3 percent, while Manappuram Finance Ltd is up 3.3 percent.

These lenders would qualify as those allowed to apply for payments bank licences, traders say.

EDITORIAL OF THE DAY

  • The government needs to explain the `67,382 crore IDS declarations

    The authenticity of disclosures made by individuals and companies under the much-publicised Income Disclosure Scheme (IDS) has come under scrutiny.

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Sandeep Bamzai

<b>Disequilibrium:</b> The Looking glass war

In the looking glass war, where bitter adversaries - Ratan ...

Ananda Majumdar

<b>Ruminations:</b> How JP can wake up Cong

The Congress party has clearly missed a trick with its ...

Kuruvilla Pandikattu

Let go of ‘if onlys’, live in the moment

The prospect of facing certain death and reflecting on it ...