 "Gold")
The gold financing business in India is undergoing a major transformation, whose main driver is increased use of technology for faster loan processing, accurate gold valuation, safekeeping, auctions and cost-cutting.
According to a report by the World Gold Council, several leading gold loan non-banking financial companies (NBFCs) such as Muthoot Finance, Manappuram Finance and others have witnessed a significant rise in online transactions in recent months. The report states that 19.2 per cent of Muthoot Finance’s gold transactions now takes place online.
As for Manappuram Finance, the share of its online gold scheme (OGL), which used to account for 45
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