NBFC Gold Loans Reach ₹3.29 Lakh Crore
Gold loans have become a major business for Non-Banking Financial Companies (NBFCs). By May of this year, loans issued by NBFCs against the pledge of gold jewelry reached ₹3.29 lakh crore. This marks a 70% increase compared to the same period last year. No other loan category offered by NBFCs witnessed such growth during the past year. The RBI released the latest statistics regarding this. Significant growth rates were also observed in NBFC-issued housing and vehicle loans in May this year compared to May of the previous year.
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