Paul Merchants Finance Private Limited (PMFPL) launches Loan Against Silver, becomes India's first NBFC to set up exclusive silver loan branches

Exam-focused facts from the 24 August 2026 current affairs briefing.

Key facts

The Reserve Bank of India (RBI) introduced the Lending Against Gold and Silver Collateral Directions, 2025, enabling eligible regulated lenders to accept silver as collateral.
Paul Merchants Finance Private Limited (PMFPL), part of the Paul Merchants Group, launched its Loan Against Silver product.
PMFPL became India's first non-banking financial company (NBFC) to set up exclusive silver loan branches.
PMFPL commenced silver loan operations from Chandigarh and plans phased expansion to other locations.
Silver loans ranging from ₹2,000 to ₹15 lakh are available against eligible silver jewellery, ornaments and approved silver coins.
The product targets individuals, proprietors and MSMEs for personal, business and other legitimate financial requirements.