Muthoot tanks 10% on RBIs gold norms, Manappuram falls 5%

Shares in gold-finance companies fell sharply on Tuesday, with Muthoot by 10% and Manappuram Finance by 5%, due to RBI's new gold-loan guidelines. Making charges on jewellery will no more will be allowed to be added for loan-to-value (LTV) calculations, the central bank said. Also, the loans above Rs.1 lakh will have to be disbursed by cheque, the bank added.