Bank Loans Against Jewellery Surge Fivefold to ₹4.6 Lakh Crore, Fastest Growth Across All Sectors: RBI Data
Jewellery loans register 123% YoY growth, outpacing housing, agriculture, and personal loans
نظرة سريعة
- Bank loans against jewellery in India surged nearly fivefold to ₹4.6 lakh crore at the end of March from ₹93,301 crore two years prior, marking 123% year-on-year growth—the fastest pace among all lending sectors.
- Priority sector housing loans grew 39.8% to ₹10.44 lakh crore, while personal loans rose 16.2%.
- Credit to agriculture, industry, and services sectors also recorded double-digit growth, whereas consumer durable loans contracted 5.3% and export credit fell 8.4%.
ملخص مُنشأ بالذكاء الاصطناعي
لماذا يهم
The RBI releases sectoral bank credit data quarterly, tracking loan growth across different segments of the economy. jewellery loans are typically collateralized against gold, and the surge may reflect both rising gold prices and increased preference for secured borrowing.
Bank loans against jewellery rose nearly fivefold to ₹4.6 lakh crore at the end of March from ₹93,301 crore two years ago, registering a 123% year-on-year growth—the fastest across sectors, according to data from the Reserve Bank of India.
Kolkata: Bank loans against jewellery surged nearly five times in the last two years to Rs 4.6 lakh crore at the end of March from Rs 93301 crore two years prior, Reserve Bank of India data showed. On a year-on-year basis, it expanded 123%, registering by far the fastest pace of growth among all lending sectors. No other sector saw triple digit loan growth, according to the sectoral bank credit data released by RBI on Thursday.
The priority sector housing loans grew 39.8% year-on-year to Rs 10.44 lakh crore. The entire housing sector grew at 11.5% rate to Rs 33.56 lakh crore, according to the data published by the Reserve Bank of India.
Meanwhile, bank loans to finance consumer durables and export credit saw deceleration. Consumer durable loans saw a 5.3% year-on-year compression to Rs 21962 crore. Exports credit contracted 8.4% annually to Rs 11436 crore.
Bank's personal loans segment recorded a 16.2% year-on-year growth, as compared with 11.7% a year ago.
Credit to agriculture and allied activities registered a 15.7% annual growth against 10.4% earlier. Credit to industry recorded 15% expansion against 8.2% earlier. Credit to services sector registered a 19% year-on-year surge as compared with a 12% rise last year, supported by higher bank loans to non-banking financial companies, trade and commercial real estate.
أسئلة مفتوحة
- What is driving the surge in jewellery-backed loans specifically?
- Are there concerns about gold price volatility affecting loan quality?
- What is the default rate on jewellery loans compared to other secured loans?