India’s RBI bars unregulated staff from handling gold, forcing fintechs into NBFC-led lending
→Fintech operations cannot handle pledged gold; must route through NBFC or bank entities
Change
India’s RBI barred non-regulated staff from handling pledged gold, forcing fintechs to operate via NBFC licences or on-balance-sheet lending structures.
Why it matters
The rule removes fintech-led gold custody and doorstep servicing models, shifting control to regulated entities. Lending, custody, and disbursal must now sit within licensed NBFC or bank frameworks.
Implications
- — Gold-loan fintech operations teams must stop employee-led gold handling immediately — violations trigger RBI compliance breaches and enforcement action.
- — Fintech compliance teams must operate through NBFC licences or regulated partners — unlicensed structures cannot originate or process gold loans.
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Source
View on Economic Times