Tamil Nadu Chief Minister M.K. Stalin has strongly opposed the Reserve Bank of India’s (RBI) plan to tighten gold loan rules.In a post on X, Stalin said the move would hurt poor and middle-class families. “Gold is not a luxury for them. It is their safety during tough times,” he wrote.
He explained that people save little by little to buy gold, not to show off, but to protect their future.
If gold loans are restricted, Stalin warned, people may turn to loan sharks or unsafe loan apps.
“This is not just a rule. It affects their dignity and survival,” he said.
He asked Finance Minister Nirmala Sitharaman and the RBI Governor to cancel or ease the new rules.
