GPay to offer gold-backed loans with Muthoot Finance
Additionally, Google Pay will partner with Aditya Birla Finance Capital to offer personal loans to users.
Additionally, Google Pay will partner with Aditya Birla Finance Capital to offer personal loans to users.
Granting priority sector status to gold loan NBFCs will drive financial inclusion for small borrowers.
Uday Kotak’s Kotak Mahindra Bank stake makes him the richest in the BFSI category
The biggest proxy for India's growth story is the banking and financial services and it comes as no surprise that the most conservative banker Uday Kotak of Kotak Mahindra Bank tops the list.
The company’s income dips 5% to ₹2,678.37 crore in the said quarter; standalone profit for FY22 rose 6% to ₹3,954 cr.
Gold loan companies are auctioning the pledged gold more and more, indicating dire financial conditions of households and small businesses, despite GDP growth.
Building trust and improving awareness among consumers, together with innovation, can play a role in enhancing the image of India’s gold industry
Muthoot Finance generally caters to small businessmen, shopkeepers, small traders, among others, and expects demand from them as the economy picks up.