Page 5 - Gold Loans

'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

Gold loan assets of NBFCs expected to grow at 15-18% in current fiscal

The demand, especially from individuals for meeting urgent personal requirements and from micro enterprises for working capital to restart businesses, would propel gold loan growth

SBI to waive processing fee on YONO loans, offers 10 bps off on home loans

The country's largest lender is offering the lowest interest rate starting from 7.5 per cent to customers opting for car loans

State Bank of India targets 3x growth in retail, MSME gold loans

Cheap deposit money, which helps offer low lending rates, gives banks the edge over gold loan companies

Raiding RBI war chest, asking people to deposit gold needless distractions

Using the central bank's gold to raise resources is no substitute for bolstering the sovereign's credibility with investors

SBI eyes three-fold rise in retail, MSME gold loan business in FY21

To use digital banking platform YONO extensively to cut-down on response time and scale up activity for it