Wed May 21 14:36:37 UTC 2025: Here’s a news article summarizing the provided text, along with some context based on the implied source:
**The Hindu: Political Leaders Urge RBI to Reconsider Gold Loan Guidelines**
**CHENNAI, May 21, 2025** – Top political figures in Tamil Nadu are calling on the Reserve Bank of India (RBI) to roll back its new guidelines regarding gold loan disbursal, arguing they will negatively impact the poor and middle class.
Tamil Nadu Congress Committee (TNCC) president K. Selvaperunthagai took to X (formerly Twitter) to voice his concerns, stating that the new rules, which include restrictions on loan amounts to 75% of the gold’s value and requiring borrowers to fully close existing loans before re-pledging, will hinder access to emergency funding for those who rely on gold loans.
Pattali Makkal Katchi (PMK) Founder S Ramadoss echoed these sentiments in a separate statement, condemning the guidelines as harmful to those in need. He warned that the restrictions would drive individuals to pawn brokers and private money lenders who often charge exorbitant interest rates.
Both leaders are urging the RBI to reconsider the policy in order to protect vulnerable populations who depend on gold loans as a vital financial resource.
First Piper 