28
Mar
Gold loans in India are rapidly transforming from a stigmatised “last resort” borrowing option into a planned and preferred credit choice, according to Kotak Mahindra Bank. The bank said borrowers are increasingly pledging idle ancestral jewellery to access quick, hassle-free and lower-cost credit compared to mortgages and unsecured loans. Shripad Jadhav, President and Head – Gold Loans at Kotak Mahindra Bank, said this shift reflects changing borrower behaviour. “Gold loans are no longer about distress. Customers with stable incomes are using them as a disciplined way to meet short-term needs and act on time-sensitive opportunities,” he said. Rising gold prices…
