Page 5 - Gold Loans

Canara Bank crosses Rs 1 trn mark for outstanding gold loan book in June

Canara Bank is pushing this business in Eastern region and two metropolitan areas - Mumbai and Pune

SBI to scale up gold loan business, start premium banking services

SBI agriculture cold loan portfolio increased to Rs 73,601 crore in FY22 from Rs 66,878 crore in FY2021 and personal segment, the gold loans book expanded by 9.89 per cent YoY to Rs 23,063 crore

Shriram City to focus on small biz, gold loans in FY23; aims 18% AUM growth

Shriram City Union Finance will focus on personal, gold and small business loans to achieve its 18 per cent growth in AUM in the current fiscal year amid a slowdown in demand for two-wheelers due to shortage of components and other factors, a top company executive said. Noting that the demand in the economy has not yet fully recovered, while rural and semi-urban areas have been doing better now, Y S Chakravarti, MD & CEO, said majority of the company's business comes from semi-urban and rural markets and anything good for the rural economy will help the company's business. "Our focus will be on personal loan, gold loan and small business loans. In terms of economic recovery, we have not recovered fully. Urban areas are still struggling, to some extent the rural economy has picked up probably because, one the harvest has been good and in current year also there is good rainfall prediction,"Chakravarti told PTI in an interaction. He said the crop harvests and also the prices are ...

Gold loan: Low-cost option and credit score no bar, say experts

If the price of gold plunges, a borrower can be asked to put up additional collateral

Shriram City eyes four-fold rise in gold loan portfolio in five years

Plans aggressive expansion in north India, where it has already launched its product in 70 branches

'Gold loan NBFCs may adopt aggressive growth strategies amid competition'

Gold loan portfolio across banks has jumped by more than 89 per cent year-on-year to Rs 60,700 crore in FY21 and Rs 70,900 crore in the first nine months of FY22

Pakistan govt 'plans to' borrow people's gold for foreign exchange crisis

According to the proposal, the commercial banks will issue a negotiable discounted instrument to the gold owner and pay an interest rate on the precious metal

Gold loan securitisation volume stands at Rs 4,400 cr in H1 FY22: Report

Gold loan securitisation volumes stood at around Rs 4,400 crore in the first half of the current fiscal, same as volumes seen in the year-ago period, Icra Ratings said in a report on Wednesday

Overdraft facility against gold cheaper than term loan, say experts

Opt for overdraft facility if you have a recurring need, a term loan if you require a lump sum

Gold financiers in a sweet spot: Muthoot, Manappuram can grow at 10-12% pa

The share price of Muthoot Fin has risen 31% over last year, but Manappuram underperformed with 9% return

Surge in gold loans, sharp uptick in auctions may be hiding a larger pain

The drop of 5-7% in gold prices after March 2021 has added to borrowers' woes, triggering margin calls and auctioning off of jewellery pledged by customers

Retail, agri loans grow in June as states begin to ease Covid-19 curbs

Loans to agriculture and allied activities showed an accelerated growth of 11.4 per cent in June 2021 as compared to 2.4 per cent in June 2020

Muthoot Finance soars 17% in two days, hits new high on strong Q4 results

Despite a 10-12 per cent decline in gold prices, Muthooth Finance managed to grow the loan book by 4 per cent quarter-on-quarter

How falling prices may impact the quality of gold loans for banks

Since June 2020, gold-loans surged even as lending to other segments was affected by asset-quality concerns

Best of BS Opinion: Cannabis is no longer 'dangerous', gold loan, and more

Here's a selection of Business Standard opinion pieces for the day

Non-food bank credit grows 6% in January 2021; gold loans rise 132%

The pace of retail credit, a segment which has the maximum focus of banks, decelerated to 9.1 per cent in January 2021 from 16.9 per cent in January 2020

Glitter online: Increased digitisation is remoulding India's gold loan biz

The WGC expects that with gold-loan NBFCs expanding their branch networks and making greater use of technology, the organised gold-loan market could reach Rs 4.62 trillion ($62.8 billion) in 2021-22

Coronavirus pandemic to boost gold loans to $55.2 billion in 2020-21: WGC

Gold loan industry traditionally been a pillar of support for small businesses and households in need of emergency short-term assistance

Best of BS Opinion: Industrial era GDP measures, gold loans glitter & more

Here's a selection of Business Standard opinion pieces for the day

Gold loans glitter for banks

Loan against gold is the best route for monetising the yellow metal, and the Covid pandemic is acting as a catalyst for it