Organized Gold Loans to Become Rs. 3,101 bn Industry by 2020: KPMG Report
According to a new report by the global tax, audit and advisory services provider KPMG, the organized gold loan industry in India can touch Rs. 3,101 billion by financial year 2019-20. It bases the figure on that fact that companies are now offering flexible schemes under which the customers can apply for gold loans with minimum paperwork and lower interest rates.
The report said that gold loan companies are expected to continue offering lower tenure loan products and detach the gold price volatility risk.