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Manappuram shares was trading lower by 1.09% at Rs 31.70, after touching an intra-day low of Rs 31.10 at 12.35 pm IST.
Shares of Muthoot Finance was trading at Rs 204, lower by 0.85%. It touched an intra-day low of Rs 200.
On Monday, the RBI said that no advances should be granted by banks against gold bullion to dealers/traders in gold if, in their assessment, such advances are likely to be utilised for purposes of financing gold purchase at auctions and/or speculative holding of stocks and bullion.
This move came due to the significant rise in imports of gold in recent years which is a cause of concern as direct bank financing for purchase of gold in any form viz.,bullion/primary gold/jewellery/gold coin etc.
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