Business Briefs 09-01-2014

Gold loan limit Racing cars Rupee trend

By The Telegraph Online
  • Published 9.01.14

Gold loan limit

Mumbai, Jan. 8: People seeking loan against gold jewellery can now borrow more as the Reserve Bank today allowed NBFCs to lend up to 75 per cent of the value of the metal, up from 60 per cent at present. This, the RBI said, has been done in view of the moderation in the growth of gold loan portfolios of non-banking financial companies (NBFCs) in the recent past.

Racing cars

New Delhi, Jan. 8: The government has modified the trade policy to facilitate imports of cars and motorcycles for racing events. Cars and motorcycles imported for racing events will not be permitted to ply on public roads, the Directorate General of Foreign Trade said today.

Rupee trend

New Delhi, Jan. 8: This year is likely to be “no easier” than 2013 for most Asian currencies, including the rupee, and they will be exposed to periods of higher volatility, an HSBC report said today. Many Asian currencies were stuck in a rut last year, and this is likely to continue in 2014.