The gold-backed loans in India have seen huge upsurge, triggered by record high prices of the yellow metal. The gold loan schemes by banks as well as non-banking financial companies (NBFCs) in the country are witnessing huge traction, as people consider it as the easiest and the most convenient option to borrow money to meet their immediate financial needs, especially during the pandemic situation, when common households are faced with substantial drop in incomes. According to VP Nandakumar, MD and CEO, Manappuram Finance, loan against gold jewellery has emerged as the best available option for poorer sections to ... (full story)