Gold loans catch the fancy of Indian financial market

An estimated 22,000-25,000 tonnes of gold are lying as assets with Indian households, according to the World Gold Council. Rural India accounts for 65% of this gold stock. About 1.2% of India’s total gold stock has been pledged as collateral for loans, leaving huge potential for the market to grow, consultancy firm Cognizant said in a note in January.

from Banking/Finance-Industry-Economic Times https://ift.tt/2X9L85B