IDBI Bank's gold loan business crosses Rs 10,000-crore milestone

IDBI Bank on Tuesday said its gold loan portfolio has crossed a Rs 10,000 crore milestone.

"IDBI Bank's gold loan book has achieved a prestigious milestone and has crossed Rs 10,000 crore landmark. In the last two years, the bank's gold loan book has doubled from Rs 5,000 crore to Rs 10,000 crore," it said in a release.

The LIC-controlled bank said its loan processing system is fully automated and this has helped in the growth of the gold loan book.

Customers complete the transactions generally in 10-15 minutes, it added.