Gold-backed lending by NBFCs surged nearly 70% despite RBI tightening
Business
Gold-backed lending by NBFCs surged nearly 70% year-on-year in June 2026, way outpacing regular retail credit growth.
Even with the Reserve Bank of India (RBI) tightening gold-loan rules, more people are turning to their jewelry for quick funds instead of just saving it.
Gold loans fund education business healthcare
Gold loans aren't just for emergencies anymore. People are using them for things like college fees, business needs, and healthcare.
As Manipal Fintech CEO Puja Abhishek Singh puts it, rising gold prices mean you can borrow more against the same jewelry.
Plus, digital onboarding and faster approvals are making these loans easier to get, especially outside big cities.