Gold-backed loans by NBFCs see 70% annual growth in May
Data from the RBI reveals that loans issued by non-banking financial companies (NBFCs) against gold jewellery climbed by 69.9% year-on-year during May 2026, marking the sector's most rapid area of growth. By the close of May, the total value of outstanding gold loans reached ₹3.29 lakh crore, a significant increase from the ₹1.94 lakh crore recorded in the same month last year. In comparison, the total credit provided by NBFCs saw an annual growth rate of 14.2% for May 2026.
by shortkt.com✓