Palaniswami calls for exempting all gold loans from RBI’s proposed norms

AIADMK general secretary Edappadi K. Palaniswami. | Photo Credit: Akhila Easwaran

AIADMK general secretary Edappadi K. Palaniswami on Friday called for exempting all gold loans from the new regulations proposed by the Reserve Bank of India (RBI).

“They [the gold loans] serve as a vital means for farmers, small traders, and economically weaker sections to meet urgent needs such as medical and educational expenses,” Mr. Palaniswami said in a post on his social medial handle, adding that the existing procedures for gold loans should continue.

He also welcomed the recommendations of the Department of Financial Services in the Union Finance Ministry that the RBI exempt small loan borrowers seeking gold loans below ₹2 lakh.

Meanwhile, in a statement, ADMK Workers’ Rights Retrieval Committee coordinator O. Panneerselvam urged the State government to fill vacancies for teaching faculty in government colleges and universities.

Published - May 30, 2025 06:42 pm IST