Indian gold lender's stocks dip as cenbank scrutiny sparks growth fears
Oct 1 (Reuters) -Shares of Indian non-bank gold lenders Manappuram Finance MNFL.NS and Muthoot Finance MUTT.NS dropped 2% each early on Tuesday, a day after the central bank said it found "several irregular practices" in the industry.
The Reserve Bank of India warned that non-compliance with regulatory guidelines could attract, among other things, supervisory action by the central bank.
Those comments are "a sentimental negative for the gold lenders", brokerage Motilal Oswal said in a note.
Reporting by Nandan Mandayam in Bengaluru and Siddhi Nayak in Mumbai; Editing by Savio D'Souza
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