Shaktikanta Das, the Governor of the Reserve Bank of India, has called on banks and non-banking finance companies to closely watch how top loans are being utilised and to intervene if they are being used for unproductive or speculative purposes.

 This recommendation was prompted by a significant increase in home equity loans and top-up housing loans. Additionally, Das highlighted that banks and NBFCs have been providing top-ups on other secured loans such as gold loans, and certain entities are strictly adhering to regulatory guidelines regarding fund utilisation.

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