KOLKATA The Reserve Bank of India has allowed small finance banks to lend to capital market intermediaries and has set fresh loan-to-value (LTV) ratio guidelines for lending against financial assets, including eligible securities. The central bank kept the LTV ceiling for lending against listed shares and convertible debt securities at 60%, for lending against equity mutual funds and units of equity traded funds at 75%, for lending against debt mutual funds at 85%. Likewise, LTV for lending against debt securities would be 75-85%, depending on rating of the instrument.