Record-Breaking Rise in Gold Loans: 8 Times Faster Than Consumer Durable Loans?
Gold loans are in high demand in India. According to RBI data, by October 2024, the outstanding gold loan amount in banks increased by 56.2% year-on-year to ₹54,000 crore. This growth is much higher compared to other loan categories like consumer durable loans, home loans, and vehicle loans. Total outstanding gold loans reached ₹ 1,54,282 … Read more