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Stalin Writes to Nirmala, Wants RBI to Reconsider New Norms for Gold Loans
The New Indian Express
|May 29, 2025
Chief Minister MK Stalin has written to Union Finance Minister Nirmala Sitharaman urging her to intervene and advise the Reserve Bank of India (RBI) to reconsider its draft guidelines that seek to restrict banks from accepting gold as collateral for agricultural loans up to ₹2 lakh.
In his letter to Nirmala, Stalin expressed grave concern over the RBI's draft ‘Lending against Gold Collateral Directions, 2025,’ warning that the proposed changes could severely disrupt rural credit delivery systems, especially in Tamil Nadu and other parts of South India where gold-backed loans are a lifeline for small and marginal farmers.
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