Chennai, May 22 (UNI) Tamil Nadu Finance Minister Thangam Thennarasu on

Thursday said the nine rigid guidelines imposed by RBI on gold loans was deeply

insensitive and urged it to withdraw the new restrictions as it would grvely affect

the poor nd middle class who depend on such loans during emergencies.

These measures amounted to systematic injustice against the vulnerable and

said the RBI should adopt compassionate people-centric policies, he said.

In a post on X, he said "I urge the RBI to immediately withdraw the newly imposed

restrictions on gold loans."

"Reducing the loan-to-value ratio to 75% and burdening borrowers with excessive

documentation gravely affects poor and middle-class families who depend on such

loans during emergencies", Mr Thennarasu wrote.

"At a time when people are still reeling from the earlier rule that disallows re-pledging

until full repayment, the introduction of 9 more rigid guidelines is deeply insensitive",

he said.

"These measures amount to systemic injustice against the vulnerable. The RBI must

adopt compassionate, people-centric policies", he added.

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