Why NBFC gold loans are growing nearly 70% despite tighter RBI regulations

Non-banking financial company gold loans grew nearly seventy percent year-on-year. This expansion significantly outpaced overall retail credit growth for these institutions. The Reserve Bank of India had introduced new rules for gold lending practices. Despite regulatory scrutiny, demand for gold-backed credit remained robust. Credit growth in industry and services sectors showed moderation during this period. https://ift.tt/05TEoQz