Incessant surge in gold prices led to higher demand for gold loans amid the pandemic and increased the asset under management of major gold loan NBFCs, according to a report by World Gold Council (WGC). The report said that the outstanding organised gold loan is expected to grow to Rs 4,051 billion ($55.2 billion) in FY 2021 from Rs 3,448 billion ($47 billion) in FY 2020.from IndiaTV Business: Google News Feed https://ift.tt/3nam1eE
Incessant surge in gold prices led to higher demand for gold loans amid the pandemic and increased the asset under management of major gold loan NBFCs, according to a report by World Gold Council (WGC). The report said that the outstanding organised gold loan is expected to grow to Rs 4,051 billion ($55.2 billion) in FY 2021 from Rs 3,448 billion ($47 billion) in FY 2020.