Muthoot, IIFL shares crash up to 10% as RBI says 'Guidelines on gold loans soon'

The shares of Muthoot Finance, IIFL Finance, Manappuram Finance and Cholamandalam Investment and Finance Company fell up to 10% on Wednesday. These stocks fell as RBI Governor Sanjay Malhotra announced that the RBI will soon issue comprehensive guidelines on loans against gold and non-fund-based entities. He said the guidelines for co-lending will now be extended to all regulated entities.