Page 2 - Gold Loan

Poonawalla Fincorp launches gold loan business; eyes Tier-I, II expansion

The Cyrus Poonawalla Group-backed NBFC plans to open 400 new branches over the next four quarters, targetting Tier-II and Tier-III cities

Piramal Finance plans to foray into gold loan business for growth

Investment banking sources said the Piramal group is open to acquisitions, though it is not involved in any talks

Shriram Finance aims to increase market share in gold loan business

Shriram Finance Ltd, the flagship company of the diversified conglomerate Shriram Group is looking to consolidate its gold loan business and increase the market share in the coming quarters. On the back of organised gold loan market expected to double in the next five years, the company has drawn up plans to introduce gold loan business in more branch networks. "In Q3FY25, the gold loan Assets Under Management (AUM) in Shriram Finance Ltd's Tamil Nadu branches in North Coastal, Kancheepuram and Salem, Krishnagiri and Tiruvallur zones grew significantly. We are now looking to consolidate and grow our market share in the coming quarters and a part of our plan is to introduce gold loan business in more branches," company Deputy Managing Director Anbuselvam said. The demand for gold has surged as individuals and small businesses seek quick access to funds, aligning with the national trend of rapid expansion in the organised gold loan industry, the company said in a statement here on ...

Muthoot Finance shares jump 4% as gold loan AUM tops Rs 1 trillion

The flagship company of Muthoot Group is one of the largest gold loan-focused NBFCs in India

RBI set to ask lenders to tighten gold loan processes, monitor fund usage

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

Economy deep in 'Modi-made crisis', claims Congress on rising gold loans

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 ..

Gold loan offtake stays strong amid retail loan moderation in January

Industrial credit depicts mild uptick; agri, services moderate

Infra lending slows in December; gold loan growth sees sharp uptick

According to Reserve Bank of India (RBI) data, in absolute terms, bank credit to infrastructure rose by Rs 12,657 crore in 12 months to Rs 13.14 trillion in December 2024

High yield comes with high risk in the long run, says Pralay Mondal

He explains the reasons behind flat profit growth in the third quarter (Q3) and margin compression

Muthoot Finance Q2 results: Consolidated net profit up 21% at Rs 1,321 cr

Impairment on financial instruments grew sharply to Rs 420 crore in Q2 FY25 from Rs 81.14 crore in Q2 FY24

What are the consequences of missing your gold loan repayment?

Borrowers must remain vigilant about their repayment schedules and communicate proactively with lenders if they encounter difficulties

Muthoot Finance raises $400 million via USD notes, oversubscribed 3.9x

The funds raised will be used for onward lending and other activities permitted under the external commercial borrowing guidelines of the Reserve Bank of India

Manappuram Finance's stock tumbles 14% on RBI action against subsidiary

According to the report, Asirvad contributes around 27 per cent to the consolidated assets under management (AUM) of Manappuram Finance

Google, Muthoot Finance tie up to provide gold-backed loans through GPay

Global tech titan Google on Thursday said it has tied up with Muthoot Finance to provide gold-backed loans through its mobile payments service GPay. Google also announced that from October 3, 2024, its AI assistant Gemini Live will be available in Hindi, and later eight more Indian languages will be included. These announcements were made by the company officials at the 10th edition of 'Google for India' event here. GPay is expanding its offerings by introducing gold-backed secured loans in collaboration with Muthoot Finance. According to Google India MD Roma Datta Chobey, about 11 per cent of the world's gold is housed in India. People across India can now access this credit product, with affordable interest rates and flexible usage options--delivering flexibility to the borrower, and security to the lender, Google said. As regards AI assistant Gemini Live, Hema Budaraju, Senior Director, Product Management, Google India, said that over 40 per cent of the Gemini users rely on voi

RBI asks lenders to address 'irregularities' in gold loans in 3 months

Action taken by lenders have to be informed to the senior supervisory manager (SSM) of the regulator

Larger gold loan players less impacted by Reserve Bank of India advisory

While banks are dominant in jewellery-backed agriculture loans, NBFCs lead in retail gold loans and are expected to expand at 17-19 per cent in FY25

RBI lifts restrictions imposed on IIFL Finance's gold loan business

On March 4, 2024, the RBI imposed restrictions on IIFL Finance after observing deviations in assaying and certifying purity and net weight of gold at time of sanctioning loans and at time of auction

'Complex and expensive': Further tranches of sovereign gold bonds unlikely

The July Budget reduced the import duty on gold from 15 per cent to 6 per cent, lowering input costs for jewellers and deterring smugglers

Keep loan-to-value ratio for gold below 75% to avoid topping up collateral

Only borrow an amount that can be repaid comfortably. The ratio of total EMI to take-home salary should not exceed 40 per cent

Gold loan demand stays strong despite cash disbursement curbs: CRISIL

According to CRISIL, growth for gold-loan NBFCs has been supported by favourable movement in gold prices