EVEN AS THE Department of Financial Services (DFS) has written to all public sector banks (PSBs) asking them to review gold loan portfolios for any lack of regulatory compliance, Canara Bank, the largest gold loan provider amid PSBs, is confident of sustaining a higher double-digit loan growth in the segment, two senior officials told FE.
"The DFS sought some data from us and other PSBS about a week back and we have submitted it already. This was an outcome of the issues at IIFL Finance and Bank of Baroda (BOB). However, we will continue to grow our gold loan book as we have implemented robust compliance measures," a source said.
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