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.
Parag Agrawal of Twitter signals Brahmin clout at IIT ending. Kota is now Baniya phenomenon
Baniyas, with their financial might, have breached the sanctum sanctorum of IITs. Money is playing a bigger role than birth in a certain caste. Change is welcome.
Bezos, Branson & Musk — Are billionaires popularising space travel or just on an ego trip?
Jeff Bezos will travel to the edge of space in his New Shepard aircraft — more than a week after billionaire Richard Branson defeated him in a fast developing space race.