Gold Loans

The Reserve Bank of India wants banks and non-banks to also bolster background checks on borrowers and ascertain the ownership of the gold that is being mortgaged

The Congress on Tuesday flagged the issue of rise in gold loans and claimed that the Indian economy is "deep in a Modi-made crisis". Congress general secretary in-charge communications cited the February RBI data and pointed out that gold loans had jumped a whopping 71.3%. "India's economy is deep in a Modi-made crisis. Recall that by 2024, widespread and persistent economic stagnation had resulted in a 300% growth in gold loans in just 5 years. Gold loans crossed the Rs. 1 lakh crore mark for the first time ever," Ramesh said on X. "The bad news for India's women now continues to pile up. In February 2025, RBI data showed that gold loans had jumped a whopping 71.3%," he said. While bank credit in every other sector has slowed, from housing loans to car loans, distress lending such as gold loans is peaking, Ramesh said. Not just that, a Cibil-NITI Aayog report showed that gold loans make up nearly 40% of all credit issued to women, and the number of women forced to put up their ..

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The agreement is subject to necessary approvals and the fulfilment of all conditions precedent to closing

The gold loan portfolio of banks rose by 71.3 per cent year-on-year (Y-o-Y) till December 2024 to Rs 1.72 trillion

Commercial banks reported a 62 per cent increase in gold loan NPAs, which rose to Rs 2,445 crore in June 2024 from Rs 1,513 crore in March 2024

Gold loan financier Indel Money on Monday said it plans to raise up to Rs 150 crore through non-convertible debentures to fund business growth. The issue, which is open from October 21 to November 4, has an option of early closure in case of early over-subscription, Indel Money said in a statement. The funds raised through this issue will be used for the purpose of onward lending, financing, and for repayment/prepayment of principal and interest on borrowings of the company and general corporate purposes, it said. The company expects to penetrate new markets and expand its customer base in rural and semi-urban markets where a large portion of the population has limited access to credit, it said. Gold loan accounts for 91.82 per cent of the company's loan portfolio. The company has a network of 324 branches.

To enter gold loans, microfinance loans, and co-branded card segment; Co. to tap the dollar bond market soon

Muthoot Finance, Manappuram Finance shares slipped after the RBI found several irregular practices being followed by gold loan financiers

The gold loan segment has expanded at a compound annual growth rate (CAGR) of 25 per cent between FY20 and FY24, Icra said

India's organized gold loan market is poised to reach a new milestone, with rating agency Icra forecasting it to exceed Rs 10 trillion in the current financial year, and Rs 15 trillion by March 2027.

IIFL fell under regulatory scrutiny in March amid a crackdown on financial firms, when it was asked by RBI to stop disbursing new gold-backed lending following 'material supervisory concerns'

IIFL fell under regulatory scrutiny in March amid a crackdown on financial firms, when it was asked by RBI to stop disbursing new gold-backed lending following 'material supervisory concerns'

Follows RBI curbs on lender in March this year

Regulator last year hiked risk weights for unsecured loans and put curbs on IIFL Finance, a large player in gold loan business

Firm will not sell gold loans to asset reconstruction companies as the RBI is 'not comfortable', says George Alexander Muthoot

According to reports, the RBI has said no gold loan NBFC should disburse loan amount in excess of Rs 20,000 in cash

NBFCs are required to maintain a Loan-to-Value (LTV) ratio not exceeding 75 per cent for loans granted against the collateral of gold jewellery

Rightly so. Since November 1962, there have been many attempts to monetise gold. It's finally happening, but we must look for sustainable growth

Adds two directors on board, rejigs top management