Indian Gold Loan Market to grow at a CAGR of 12.22%, reaching nearly USD 124.45 Billion, says Maximize Market Research
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  • Indian Gold Loan Market to grow at a CAGR of 12.22%, reaching nearly USD 124.45 Billion, says Maximize Market Research

    (Transportation-News.com, July 01, 2024 ) “Indian households own over 27,000 metric tonnes of gold”



    This provides a market opportunity of INR 65 trillion at current gold prices, with only 6 trillion tapped by organized market. Rural India has more than 2/3 of India’s gold demand. India saw gold demand between 800-850 tonnes in 2022. Over 65% of market share is held by unorganized sector providing quick loan with high interest rates, and 35% by banks and NBFCs. Muthoot Finance (MUTH), Manappuram Finance (MGFL), and India Infoline Finance Limited (IIFL) are some of the big fish in the pond.



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    South India accounts for 32% of total gold loan market, with high gold ownership and high demand for loan. The presence of competitive rates makes the loans affordable. The market sees access to loans online challenging traditional lenders. It gives underserved individuals access from rural areas. Products like Gold Loan Exchange Traded Funds (ETFs) are also introduced in the market. Main challenges faced by market are growing competition among lenders with low interest rates due to entry of new players, including online platforms and NBFCs. Declining gold prices affecting collateral value, defaulters increasing NPA, and regulations by RBI.



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    Market Segmentation



    By Market Type



    Organized

    Unorganized



    By Types of Lenders



    Banks

    NBFCs

    Others



    By Application



    Investment

    Collecting



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    Market Key Players:



    Axis Bank of India

    Central Bank of India

    Federal Bank Limited

    HDFC Bank Limited

    ICICI Limited



    Maximize Market Research is leading in Consumer Goods & Services research firm, has also published the following reports:



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    About Maximize Market Research:



    Maximize Market Research provides B2B and B2C research on 6,500 high-growth emerging opportunities and technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics and communications, Internet of Things, Food and Beverages, Aerospace and defence, and other manufacturing sectors.

    MAXIMIZE MARKET RESEARCH PVT. LTD.

    Akash Raskar

    +91 9607365656

    akash.r@maximizemarketresearch.com

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