Apart from the seasonal impact, heightened due to general elections and heat waves across the country that affected business activities, most private lenders saw a higher formation of fresh bad loans emanating from retail, especially personal loans and credit cards. Agriculture loans also contributed to some stress, according to post-results commentary by several banks.
Gold demand in India seen falling as prices surge, investment buying rises
India’s gold consumption is projected to drop to 650–700 tonnes this year as a sharp price rally hurts jewellery demand. Investment buying remains strong, with