India has pledged 1,800 tonnes of goldIndia has pledged 10 per cent of the total gold stock of 18,000 tonnes,according to ...
Upcoming SlideShare
Loading in …5
×

India has pledged 1,800 tonnes of gold | gold loan| gold loan interest rate| gold loans| hassle free loans| instant money transfer| jewellery loans| quick car loans| quick loans| vehicle loan

579 views

Published on

India has pledged 10 per cent of the total gold stock of 18,000 tonnes, according to the latest ImaCS Industry report.

Of the 1,800 tonnes pledged gold, 75 per cent is with the unorganised market, which comprises of moneylenders and pawnbrokers and the balance 25 per cent with the organised players like specialised NBFCs, other NBFCs, commercial and cooperative banks.

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
579
On SlideShare
0
From Embeds
0
Number of Embeds
4
Actions
Shares
0
Downloads
6
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

India has pledged 1,800 tonnes of gold | gold loan| gold loan interest rate| gold loans| hassle free loans| instant money transfer| jewellery loans| quick car loans| quick loans| vehicle loan

  1. 1. India has pledged 1,800 tonnes of goldIndia has pledged 10 per cent of the total gold stock of 18,000 tonnes,according to the latest ImaCS Industry report.Of the 1,800 tonnes pledged gold, 75 per cent is with the unorganisedmarket, which comprises of moneylenders and pawnbrokers and thebalance 25 per cent with the organised players like specialised NBFCs,other NBFCs, commercial and cooperative banks.In rural India, which has a low level of financial inclusion and pooravailability of financial products, gold is the biggest investment tool. RuralIndia is estimated to hold around 65 per cent of the total gold stocks.Tapping this opportunity, organised players in the gold loan market havebeen growing at robust pace. The organised gold loan market in Indiastood at Rs 35,000 –40,000 crore at the end of FY10, growing at 40 per centCAGR.This market is estimated to have crossed Rs 55,000 crore by end of FY11as specialised NBFCs Muthoot Finance and Manappuram combine havegrown their book by over Rs 13,000 crore during the year. Share of theorganised pie has been increasing rapidly due to significantly lower rate ofinterest charged, higher loan to book value offered and perceived safety ofthe ornaments. With penetration still negligible at one to 1.5 per cent, theorganised market is expected to continue to witness strong growth.Further, the sustained marketing efforts of specialised NBFCs have beendiminishing the stigma attached to pledging gold jewellery and altering theperception of gold loans from an ‘option of the last resort’ to an ‘option ofconvenience’, the report saidContact Us : http://www.muthoot.com/

×