Loan growth is likely to stay sluggish this yr due to weak demand & cautious approach on unsecured lending. Going forward, gap between credit growth & deposit growth is likely to shrink.
Competitive gold loan interest rate and multiple repayment options make it a wise financial tool to manage both planned and unplanned expenses efficiently.
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Report by credit information firm TransUnion CIBIL says number of women borrowers in India has increased at a compound annual growth rate of 15 per cent over the last 5 years.
In the first half of 2020, personal loans extended by banks against gold jewellery stood at Rs 1.9 lakh crore, which grew to 3.54 lakh crore in the first half of 2021.
Newspapers are filled with ads of gold jewellery auction amid indications of economic distress faced by Indian households. But resurgence in gold prices could stem the auctions.
In India, with nearly every household owning gold jewellery in some quantity, gold loans are a preferred option at a time of widespread unemployment and loss of income.
Borrowers of loans up to Rs 2 crore will receive the interest-on-interest credit for the 1 March-31 August period today, in accordance with the Supreme Court order.
Following the transaction which is expected to be completed by November, Dassault Reliance Aerospace Ltd will become an associate company, with Reliance retaining a 49% stake.
From Munir’s point of view, a few bumps here and there is par for the course. He isn’t going to drive his dumper truck to its doom. He wants to use it as a weapon.
RBI doesn’t mandate to get documentary proof, but as per availability. A declaration on ownership will also suffice.
Also the 1kg limit is on gold ornaments and not on jewellery.