India’s foreign exchange reserves, amounting to $640.3 billion by the end of December 2024, can comfortably cover 90% of the country’s external debt and nearly 11 months of imports. Despite a recent dip, India remains the world’s fourth-largest holder of foreign exchange reserves, following China, Japan, and Switzerland.
As safe-haven gold surges again, loan demand to also shoot up
Gold loan companies expect a significant increase in demand. Record gold prices, fueled by geopolitical tensions, are driving this trend. MSMEs and individuals are likely