“With the changing perception of consumers, since the last decade, towards organized gold loan institutions, the future of the market seems stellar in the coming years”, says RNCOS
With an estimated total stock of 26,000 tonnes in 2016 (according to World Gold Council), India is the largest consumer of Gold in the world. Majority of the stock is in possession of the Indian household. Possession of gold is linked with financial stability and status in the country. Indians have used gold as mortgage for short term loans since time unmemorable.
However, with the increasing awareness about the benefits of organized gold loan institutions, consumers are moving away from traditional money lenders and the market for the organized gold loan industry is increasing. Also, owing to the convenience and lesser time required in approval process for gold loans, people are opting for gold loans for short term loan requirements.
Today, the Non banking financial institutions along with Banks have enhanced their network and also streamlined the process which has led to the increasing popularity of gold loans amongst farmers and small entrepreneurs
The latest research by RNCOS titled, “Indian Gold Loan Outlook 2022” unfolds the market dynamics of the Indian Gold loan market. The Indian market is still dominated by the unorganized players in the market accounting for more than 50%. However, the organized segment is increasing rapidly at an impressive double digit CAGR.
Our industry analysts studied all the facets of the Indian gold loan market to portray a crystal clear picture of the current as well as the expected market outlook. Regulatory frameworks and the profiles of leading players with respect to Indian Gold loan market are covered.
The report is therefore expected to clearly help the reader gain crucial insight into the drivers and challenges, key market players’ performances and strategies for growth.
For FREE SAMPLE of this report visit: http://www.rncos.com/Report/IM921.htm
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