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T
households typically have an emo-
ill a few years back, gold (NBFCs) in the picture, loan against tional attachment and sense of per-
loans were the last re- gold has become all the more popu- sonal belonging to the gold they
sort for borrowers but lar. own, which is usually in the form of
the scene is fast chang- Gold loans are amongst the new- jewellery, coins or bars.
ing with more jewellery est class of assets which have seen According to the World Gold
owners viewing it as an asset to get rapid growth in securitisation. The Council, India accounts for 10 per
smart loans. With the entrance of government views gold loans as an cent of world’s total gold stock, of
non-banking financial companies effective means of meeting the de- which rural India accounts for 65