GOLD LOAN
Stocks to buy today: CLSA upgrades Muthoot Finance to outperform; Morgan Stanley sees over 20% upside in Varun Beverages
Brokerages remain bullish on key stocks. CLSA upgrades Muthoot Finance to "Outperform" (Target: Rs 2,400) on gold loan growth. HSBC maintains "Buy" on M&M (Target: Rs 3,520) citing strong SUV demand. Morgan Stanley stays "Overweight" on Varun Beverages (Target: Rs 674), highlighting expansion potential. Experts foresee continued sectoral growth.
Action to be taken if gold auction norms violated by banks, NBFCS: FM Nirmala Sitharaman
Finance Minister Nirmala Sitharaman assured action against violations of gold auction processes by banks and NBFCs in case of loan defaults. She emphasized that stringent procedures are followed, and any deviations will be addressed. The demand for gold in India continues to rise, driven by households and small businesses.
L&T Finance shares in focus on entry in gold loan business with Rs 537 crore acquisition
L&T Finance will enter the gold loan business following the board's approval to acquire Paul Merchants Finance. The Rs 537 crore slump sale includes 98,000 customers, 700 employees, and 130 branches. The acquisition is expected to close by Q2 FY 2025-26.
Check Amwill Healthcare IPO share allotment status, listing date and other details
The share allotment for Amwill Healthcare will be determined today, with the IPO receiving a subscription of over 5 times. Investors can check the status on the BSE or Bigshare Services websites. Funds from the IPO will be used for various purposes, including marketing and brand building.
RBI orders NBFCs to reveal max rates of all loan products
The Reserve Bank of India (RBI) has directed large non-banking finance companies (NBFCs) to disclose the maximum rates charged on each loan product, including interest and other fees. This measure aims to ensure transparency and curtail any potential usurious practices amid growing household indebtedness.
Lending against gold spirals amidst rising prices
Gold loans by commercial banks surged by 68% in the first nine months of FY25 due to rising gold prices. Non-bank lenders also saw a rise in gold loan sanctions. The increase in gold prices has allowed lenders to offer higher loan amounts due to higher collateral value, enhancing lender comfort despite regulatory scrutiny on gold loan portfolios.
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Bank lending slows across sectors
Bank lending in December witnessed a general slowdown across various sectors including industry, services, retail, and agriculture. However, loans against gold jewellery surged by 71% year-on-year due to rising gold prices, doubling in absolute terms over two years to Rs 1.72 lakh crore.
Gold loan NBFCs seek priority sector status, UPI credit integration in Budget 2024
Gold loan NBFCs seek priority sector status and inclusion in UPI-based credit systems in the upcoming Union Budget to drive financial inclusion and better serve small borrowers. They also call for fiscal incentives to enhance digital lending infrastructure and access to low-cost funds from government agencies.
Bajaj Finance, Bharti Airtel join hands to create digital platforms for financial services
Bajaj Finance and Bharti Airtel form a strategic partnership to create a digital platform for financial services. Airtel will integrate Bajaj Finance's retail financial products into its Airtel Thanks App and stores, aiming to enhance penetration of financial products using their extensive digital assets and distribution networks.
A complete guide to exploring the latest gold rate for buyers and investor
Gold continues to be a popular investment in Punjab, with rates influenced by global demand, currency fluctuations, and local factors. Bajaj Finance offers gold loans as a secure option to meet financial needs without selling gold. Their competitive interest rates, fast processing, and secure storage make it a reliable choice for leveraging gold assets.
Budget 2025: Opportunities to solidify India’s jewellery industry as a global powerhouse
Union Budget 2025: Reduction in import duties last year greatly improved the demand for precious metals and fine jewellery. The growth was further complemented by government initiatives and an increased confidence in gold as an investment. Loans against gold jewellery saw a significant rise and recent listings of jewellery companies performed exceptionally well. Indian jewellery exports also increased with the rupee’s depreciation.
India's central bank begins unwinding curbs on NBFCs
The Reserve Bank of India has eased supervisory restrictions on several non-banking financial companies, including Asirvad Micro Finance, Navi Finserv, and Bajaj Finance, after they improved compliance measures. High interest rates and tighter regulations had previously contributed to weak demand and economic slowdown.
Gold loan interest rates 2025: Check full list of banks' latest interest rates on gold loans
Gold loan interest rates: For gold loans, lenders keep your gold as collateral for the duration of the loan. Lenders charge an interest and once you repay the entire loan, they return your gold jewelery.
30 kg gold robbed from gold loan company in Sambalpur
Around 30 kg of gold and over Rs 4 lakh in cash were allegedly stolen at gunpoint from a gold loan company's branch in Odisha's Sambalpur city. The robbers, numbering between 7-10 and wearing helmets and masks, held employees hostage and escaped on motorcycles. CCTV footage is being reviewed.
Indian banks to see range-bound 12.5% credit growth in 2024-25: HSBC
HSBC Global Research expects Indian bank credit growth to remain steady at 12.5% in FY2025, though GDP slowdown presents a downside risk. Retail loan growth showed improvement in November 2024, especially in unsecured personal loans, home loans, and gold loans.
PM Modi's new year resolutions nothing short of 'jumlas' destroying lives of people: Mallikarjun Kharge
Congress leaders, including president Mallikarjun Kharge, allege that Prime Minister Narendra Modi's economic policies have led to significant financial distress in India, highlighting issues like increased gold loans, reduced consumption, high food inflation, and growing economic inequality. They criticize the government's unfulfilled promises and its negative impact on ordinary citizens.
Loan against gold on rise, RBI raises concerns over irregular practices involved in gold loans
Gold loans in India have seen significant growth by September 2024 compared to the previous year, driven by increased reliance on gold as collateral. Despite this rise, the RBI has raised concerns about irregular practices among certain entities and issued guidelines to address these issues. NBFCs remain dominant in the gold loan segment, holding 59.9% of the market.
High employee attrition of 25 pc in private banks pose operational risk: RBI Report
Employee attrition in private sector banks has risen to about 25 per cent, posing significant operational risks. The Reserve Bank of India emphasizes the need for strategic HR practices to reduce turnover. Additionally, banks are advised to review gold loan policies and address climate change risks.
Micro fin impacted by confluence of factors, last quarter of pain, say executives
Microfinance loan delinquencies are rising due to political events, weather disruptions, and excessive lending. Rural households prioritize food and secured loans over microfinance amidst job losses and high food inflation. Industry executives anticipate improvement next fiscal year as loan books are unwound and repayment capacity stabilizes.
Uday Kotak on Trump’s dollar supremacy, crypto trends & India’s gold loan concerns
At the ET CEO Roundtable 2024, Uday Kotak, Chairperson of Kotak Securities, asserted that US President-elect Donald Trump will maintain the US dollar's dominance. Kotak highlighted the US's strength in military, banking, technology, and energy, urging other nations to strengthen their positions.
The rise of gold loans: Why NBFCs are gaining ground in India’s $10 lakh cr market
India's gold loan market is booming, expected to cross ₹10 lakh crore. Banks and NBFCs are driving this growth. Traditional lending models are key to success. These prioritize secure loans and customer trust. Gold loans offer financial inclusion, especially for small businesses and women. The sector has huge potential for expansion.
Gold loans from banks surge, other personal loans see moderate rise
Outstanding gold loans from banks increased by more than 50% over the past year, driven by consumer distress and emergencies. Other personal loan segments saw moderate growth amid high inflation, elevated borrowing costs, and tighter regulatory norms. Second-quarter GDP growth hit a seven-quarter low, with inflation reaching a 14-month high.
Banks report 50.4% increase in gold loan demand amid financial distress
Gold loans by banks have grown by 50.4% in the first seven months of the financial year. This increase is due to a shift from NBFCs and a preference for secured loans. The total gold loans outstanding as of October 2024 stand at Rs 1,54,282 crore. Other personal loan segments saw single-digit growth.
Lenders see gold at bottom of the pyramid
Gold loan companies in India are accelerating growth plans, capitalizing on increased demand as microfinance lenders tighten credit. Muthoot Finance has raised its growth projection to 25%, while others see gold loans filling the gap left by restricted unsecured and fintech lending. The RBI has advised policy reviews following scrutiny of some lenders' practices.
Gold loans may soon come with monthly payment plans
In a circular on September 30, regulator RBI pointed out irregularities in granting loans against gold ornaments and jewellery. This was after the central bank found issues in the sourcing of gold loans, valuation, due diligence, end-use monitoring, auction transparency, loan-to-value (LTV) ratio monitoring, and the application of risk weights.
Bain Capital goes for gold: in talks with Manappuram to buy controlling stake
Proposal includes primary infusion into the shadow bank, secondary share sale by promoters, open offer; Founder Nandakumar denies any selloff plan.
Regulatory changes set to slow gold loan growth: CRISIL report
The regulatory streamlining by the RBI is expected to curb gold loan growth as lenders must review and align policies to compliance norms. This impacts gold loan disbursements during the transition phase, with potential upticks in loan delinquencies but maintaining conservative LTV might support low credit losses.
Gold loan NBFC Indel Money opens new NCD issue: Up to ₹150 crore on offer with attractive returns
Indel Money launches its fifth public issue of secured NCDs, offering a base amount of Rs 75 crore with an option to retain oversubscription up to Rs 75 crore, totaling Rs 150 crore. The coupon yields up to 13.44% per annum. Funds will be used for lending, financing, and corporate purposes.
GPay to provide gold-backed loans in collaboration with Muthoot Finance
Google collaborates with Muthoot Finance to offer gold-backed loans via GPay and plans to roll out its AI assistant, Gemini Live, in Hindi and eight other Indian languages. Additionally, Google is integrating Beckn-enabled open networks and launching clean energy projects in partnership with Adani Group and CleanMax.
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