Wednesday, 6 July, 2022
TopicGold loans

Topic: gold loans

Dialysis, rent, EMI — cash-strapped after Covid, Indians are pawning gold to make ends meet

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.

India’s pandemic paradox: Poor pledge gold, rich buy more gold, pushing imports up by 200%

The trend of relatively well-off people buying gold comes at a time when poorer Indian households continue to pawn their meagre gold for funds. 

Covid economic distress is real, just look at the full-page ads for gold jewellery auctions

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.

Indians seen rushing for gold loans again as pandemic deepens economic distress, uncertainty

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.

As interest-on-interest gets credited today, only one way you can withdraw the amount

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.

Why the gold price plunge this week is good for the health of India’s banks

Gold’s glitter was beginning to blind Indian authorities. But this week’s volatility in prices may deter bankers from giving risky gold loans.

These are the things Indians have been spending their money on during the pandemic

Immunity boosters, comfort foods and digital services are some of the items Indian consumers have been buying in the lockdown months.

On Camera

YourTurn

Currently, India provides pensions for the elderly on the basis of the National Pensions Scheme | Representative Image | Wikimedia Commons

Giving up on NPS a tragedy for state govts. DB pensions are ad hoc, delay fiscal stress

Several of the problems of the National Pensions Scheme can be easily remedied. The solution to fiscal stress isn't going back two decades ago.
Illustration by Soham Sen

Keep calm and carry on: Unlike wheat, rice isn’t hot yet

The world is worried that India might restrict exports of rice after wheat, pushing prices higher and worsening global food security.

Defence

File photo of a defence personnel armed with a SiG 716 rifle near the Line of Control | Photo: Snehesh Alex Philip | ThePrint

Army puts out tender for 30k ‘night sights’ so its US-made assault rifles can aim better in dark

While an open tender has been issued for procurement of the optical instruments, Bengaluru-based firm Tonbo Imaging, whose services the Army has previously used, is a frontrunner.

Moral, political & ideological questions on Maharashtra: 1st is simplest to answer, 3rd trickiest

What is Shiv Sena’s ideology? We might say it’s been a convenient mix of extreme ethnic chauvinism & unforgiving Hindutva. Within the second, the party retained space to manoeuvre.
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