Gold loans by NBFCs surge 68.5% in July, says RBI

Loans against gold jewellery by non-banking financial companies (NBFCs) grew at 68.5 per cent in July 2026 in continuation of a months-long trend where high lending against precious metals has been growing at elevated levels, the Reserve Bank said on Monday. Lending to facilitate consumer durable buys accelerated to 51.5 per cent in July 2026, as against 46.8 per cent in June and just 18.8 per cent in the year-ago period, as per the periodic data shared by the Reserve Bank. The gold loans segment had witnessed a growth of 69.3 per cent in the month-ago period, and were up 43.9 per cent in the year-ago period, according to the central bank.

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