Gold loans doubled in fiscal year 2025. They became the fastest-growing consumer credit. This growth surpassed housing, vehicle loans, and even credit cards. Reserve Bank of India data shows a significant increase in gold loan amounts. Rising gold prices and a crackdown on unsecured loans contributed to this surge. Banks also reclassified some agriculture loans as gold loans.
Citi downgrades India to ‘neutral’ as valuations remain elevated
Citi has downgraded India’s market rating to ‘neutral’ due to high valuations and moderating earnings growth forecasts. While acknowledging India’s strong macro story and potential
July 18, 2025