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New Delhi, Non-Banking Financial Company (NBFC) <keyword id="3504742" type="General" weightage="20" keywordseo="IIFL-finance" source="Orion">IIFL Finance</keyword> has become the second largest gold loan provider surpassing Manappuram Finance. "The gold loan portfolio has crossed Rs 23,690 crore assets under management (AUM), surpassing Manappuram Finance at Rs 20,809 crore worth of gold loan AUM. "This has cemented <keyword id="82050" type="General" weightage="20" keywordseo="IIFL" source="Orion">IIFL</keyword> Finance's position as the second largest gold loan provider in India in terms of AUM," IIFL Finance head of Gold Loan Business Saurabh Kumar, said. The market leader in gold loans is Muthoot Finance with an AUM of Rs 66,089 crore, as of September 2023. Kumar said, "the company has about 18.6 lakh customers and over 70 per cent of our customers are repeat customers helped by customer centric approaches like repayment grace period, no foreclosure charges, transparency in dealings and proactive customer need identification." The company expects a 25-27 per cent increase in gold loan in FY'24, he said. IIFL Finances provides gold loans through 1,486 towns and rural areas across 25 states and 4 Union Territories to salaried, self-employed and Micro, Small and Medium Enterprises (MSME) customer segments. Besides, gold loan, IIFL Finance offers affordable home loan, microfinance loans and business loans and has a consolidated AUM of Rs 73,066 crore.

IIFL Finance emerges as second largest gold loan NBFC

<ul><li>At 7:49 am the SGX Nifty was trading 0.68% higher pointing towards a muted start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Amid the weak cues from the global market, the sell-off in the Indian stock market is likely to continue. Meanwhile, at 7:49 am the SGX Nifty was trading 0.68% higher. US stocks fell for the third consecutive session on Monday in a row amid the fear of the second lockdown in Europe and the rising uncertainty on negotiations with the next round of fiscal stimulus in the US. The Dow Jones Industrial Average tanked 509.72 points, and the S&amp;P 500 lost 1.16% towards the end of trading Asian markets also opened on a weak note. Hong Kong’s Hang Seng Index was trading 185 points lower, and the Shanghai Composite Index was down nearly 1% at 8:05 am. These are the stocks to watch out for during the trading session on September 22: State Bank of India The country’s largest lender State Bank of India on Monday said it had raised ₹7,000 crores by issuing Basel III compliant bonds. “The Committee of Directors for Capital Raising at its meeting of held today on September 21, 2020, accorded its approval to allot 70,000 Basel III compliant non-convertible, taxable, redeemable...debt instruments in the nature of debentures aggregating to ₹7,000 crore, to bond subscribers,” SBI said in a regulatory filing to stock exchanges. The shares of SBI ended 4% lower yesterday. HSIL Limited The board of directors of HSIL in a meeting held yesterday approved the proposal for buyback of fully paid-up equity shares of the face value of ₹2 each from the open market, amounting to ₹70 crore. The shares of HSIL Limited ended 1% lower yesterday. Bombay Burmah Trading The Wadia group-owned, Bombay Burmah Trading told investors that its board would meet on September 24, to consider the proposal of raising up to ₹75 crore via non-convertible debentures. The company in a stock exchange filing said it aims to use that money for a private placement basis. The shares of Bombay Burmah Trading ended 2% lower yesterday. GMM Pfaudler GMM Pfaudler said the company's promoter would sell 25.71 lakh shares via offer for sale at a floor price set at ₹3,500 per share on September 22 and 23. The shares of GMM Pfaudler ended 3% lower yesterday. Muthoot Finance, Manappuram Finance, IIFL Finance Fitch Ratings took rating action on the long-term issuer default ratings of four non-bank financial companies. For Manappuram Finance rating has been affirmed at ‘BB-’ and ‘Rating Watch Negative’ (RWN) has been removed. Whereas Muthoot Finance’s rating has also been affirmed at ‘BB’, but RWN has been removed. The shares of Muthoot Finance, Manappuram Finance and IIFL Finance ended 6%, 4% and 5% lower yesterday, respectively. Route Mobile The recently debuted Route Mobile received a stellar response from investors. The company dominated the bulk deals on Monday. Goldman Sachs acquired 24.09 lakh shares at the debut for ₹705.95 per share, and Kuwait Investment Authority acquired 5.79 lakh shares at ₹697.25 per share. The shares of Route Mobile ended 8% lower yesterday. IPO watch: CAMS, Angel Broking and Chemcon Speciality Chemicals CAMS and Chemcon Speciality Chemicals were subscribed 0.82 times and 5.20 times respectively yesterday. Today is the day two for CAMS and Chemcon investors to invest in the IPO. Angel Broking IPO will open today for subscription and will remain open until September 24. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/interview-angel-broking-ceo-believes-the-600-crore-ipo-will-ride-the-digital-euphoria/articleshow/78235409.cms" data-type="tilCustomLink">INTERVIEW: Angel Broking CEO believes the ₹600 crore IPO will ride the ‘digital’ euphoria</a> <a href="https://www.businessinsider.in/business/corporates/news/chemcon-speciality-chemicals-318-crore-ipo-heres-what-works-and-what-doesnt/articleshow/78231465.cms" data-type="tilCustomLink">Chemcon Speciality Chemicals ₹318 crore IPO fully subscribed within two hours — Here’s what works and what doesn't</a>

Top stocks to watch— State Bank of India, GMM Pfaudler, HSIL, Route Mobile, Muthoot Finance, Manappuram Finance, CAMS, Chemcon and others

New Delhi, Feb 7 () Manappuram Finance Ltd on Friday said it plans to raise up to Rs 1,150 crore through issuance of debentures. "Financial resources and management committee of the board of directors of the company held on February 07, 2020 approved the issuance and private placement of rated, secured, redeemable non-convertible debentures up to Rs 1,150 crore," Manappuram Finance said in a regulatory filing. A meeting of the financial resources and management committee of the board of directors of the company will be held on February 14, 2020 to consider the proposed allotment for the said issue, it said. Shares of Manappuram Finance were trading at Rs 166.90 a piece on BSE, down 2.03 per cent from the previous close. SID DRR

Manappuram Finance to raise up to Rs 1,150 cr via debentures

Mumbai, Jan 28 () Gold loan-focused non-banker Manappuram Finance on Tuesday reported a 63 per cent rise in consolidated net profit to Rs 397.84 crore for the December 2019 quarter.
 Its net profit had stood at Rs 244.09 crore in the corresponding period of the previous year.
 On a standalone basis, its net income stood at Rs 332.42 crore, up 57.7 per cent from the year-ago period, the Kerala-based company said in a statement.
 Its total consolidated revenue from operations rose over 29 per cent to Rs 1,399.02 crore, taking its assets under management (AUM) to Rs 24,099.95 crore, up 35.52 per cent.
 The gold loan AUM, its mainstay, increased 29.69 per cent to Rs 16,242.95 crore and the business added 3.25 lakh new customers and disbursed loans of Rs 40,304.26 crore in aggregate with live gold loan customers being at 26.4 lakh.
 Its microfinance subsidiary, Asirvad Microfinance, ended the quarter with an AUM of Rs 5,022.14 crore, a growth of 57.18 per cent, while home loans subsidiary Manappuram Home Finance reported an AUM of Rs 601.23 crore, and the vehicles and equipment finance division reported an AUM of Rs 1,397.40 crore.
 Non-gold loan businesses contributed as much as 33 per cent of the total consolidated book.
 V P Nandakumar, managing director and chief executive officer, Manappuram Finance, termed the numbers in line with the guidance with all subsidiaries and business verticals making worthwhile contributions. "We now look forward to a strong finish in the fourth quarter," he added.
 Average borrowing cost during the quarter decreased by 18 basis points to 9.12 per cent.
 Gross non-performing assets (NPAs) improved to 0.50 per cent from 0.58 per cent a year ago, while net NPAs improved by 10 bps to 0.22 per cent.
 Shares of Manappuram Finance on Tuesday rose 2 per cent to Rs 188.60, against a 0.46 per cent fall in the Sensex. BEN HRS

Manappuram Finance net profit jumps 63 pc to Rs 398 cr in Dec quarter

The gold holdings of three Kerala companies- <keyword id="163007" type="COMPANY" weightage="20" keywordseo="Muthoot-Finance">Muthoot Finance</keyword>, <keyword id="127405" type="UNKNOWN" weightage="20" keywordseo="Manappuram-Finance">Manappuram Finance</keyword> and Muthoot Fincorp-are more than gold reserves of some of the richest nations such as Australia, Sweden, Singapore, etc. 
 
The gold holdings of these three gold loan companies in Kerala grew from 195 tonnes two years ago to nearly 263 tonnes towards the end of September 2016. 
 
In last two years, gold holdings of Muthoot Finance went up from 116 tonnes to 150 tonnes. It now holds more yellow metal in its vaults than the reserves of Singapore (127.4 tonnes), Sweden (125.7 tonnes), Australia (79.9 tonnes), Kuwait (79 tonnes), Denmark (66.5 tonnes) and Finland (49.1 tonnes). 
 Manappuram Finance has 65.9 tonnes and <keyword id="242359" type="COMPANY" weightage="20" keywordseo="Muthoot-Fincorp">Muthoot Fincorp</keyword> 46.88 tonnes. The combined holdings of the three are 262.78 tonnes. 
 
As per World Gold Council, India has the 11th largest gold reserves at 558 tonnes. The US heads the pack with 8,134 tonnes, while Germany and IMF come next (3,378 and 2,814 tonnes, respectively). 
 
The demand for gold in India is quite high as families find it trusted source of insurance.

Gold holdings of 3 Kerala companies stand at over 263 tonnes. This is more than Australia's gold reserves

New Delhi, Feb 4 () Baring India on Tuesday divested stake worth over Rs 721 crore in Manappuram Finance Ltd through open market transactions.As per the bulk deal data on BSE, Baring India Private Equity Fund II and Baring India Private Equity Fund III offloaded a total of 4,14,60,136 shares at an average price of Rs 174 apiece.This took the total deal value to over Rs 721.4 crore.Among the buyers were Key Square Master Fund II LP, Copthall Mauritius Investment Ltd and Societe Generale, that bought a total of 2.26 crore shares at similar price, valuing the total deal amount at Rs 394.11 crore, the bulk data showed.According to the shareholding data for December 2019 quarter, Baring India Private Equity Fund II and Baring India Private Equity Fund III are public shareholders of Manappuram Finance and held 3.12 per cent and 5.64 per cent shares in the firm, respectively.On the BSE, shares of Manappuram Finance fell 6.32 per cent to Rs 172.55 per scrip on Tuesday. SRSBAL

Baring India offloads Manappuram Fin shares worth over Rs 721 cr

New Delhi, Apr 21 () Markets regulator Sebi on Tuesday disposed of insider trading charges against Kotak Mahindra Life Insurance Company in the matter of Manappuram Finance. It was alleged that Kotak Mahindra Life Insurance Company (earlier known as Kotak Mahindra Old Mutual Life Insurance) sold shares of Manappuram Finance Ltd (MFL) while in possession of unpublished price sensitive information (UPSI) about the company and thereby violated insider trading norms. Sebi, pursuant to investigation in the matter of selective disclosure of UPSI by MFL, observed that Kotak had sold its shares while allegedly in possession of UPSI during March 1-20, 2013 and allegedly violated PIT (Prohibition of Insider Trading) Regulations. Sebi noted that officials of MFL met Ambit Capital Pvt Ltd's research analysts on March 18, 2013 to seek market guidance about the quarterly results and future outlook. Ambit published a research report based on the meeting which was distributed to its clients (broking as well as research) on March 19, 2013 before the market opening hours. In the research report, Ambit had changed its rating of MFL's stock from "buy" to "under review." Ambit published the report based on the meeting which was distributed to its clients (broking as well as research) on March 19, 2013 before the market opening hours. The information of negative profit for the fourth quarter of FY2012-13, which is deemed to be price sensitive information, was disclosed to the stock exchanges by MFL on March 20, 2013 after market hours and the information was already in the public domain before that. Sebi said Kotak was not in a position to know that the information that was distributed in the research report or discussed in the conference call or being covered by media is UPSI. The transactions of Kotak was purely from the point of view of the individual holding life insurance policies issued by the company, and selling of the scrip of MFL during that time was necessary to avoid significant loss to the policy holders in the scheme, since the price of the scrip was rapidly falling after the research report was issued in the morning of March 19, 2013, it added. "It may be noted that the noticee (Kotak) is bound by its fiduciary responsibility with the policy holders to act in their best interest," Sebi said. "I do not find a reasonable and acceptable degree of probability towards proving beyond doubt or even, without existence of significant doubt that Noticee (Kotak) had traded in the scrip of MFL when in possession of UPSI and hence, the allegation of violation of...PIT Regulations...does not stand established," Sebi Adjudicating Officer Vijayant Kumar Verma said while disposing of the show cause notice without any penalty. Earlier, Sebi had disposed of insider trading allegations against four mutual fund houses -- SBI Funds Management, Aditya Birla Sunlife AMC, IDFC Asset Management Company and BNP Paribas Asset Management -- in the same matter. SP RVK

Manappuram Fin: Sebi disposes of insider trading charges against Kotak Mahindra Life Insurance Co 

New Delhi, Apr 13 () Markets regulator Sebi on Monday disposed of insider trading charges against two mutual fund houses - SBI Funds Management and Aditya Birla Sunlife AMC - in the matter of Manappuram Finance.It was alleged that the two fund houses had sold shares of Manappuram Finance Ltd (MFL) while in possession of unpublished price sensitive information (UPSI) about the company and thereby violated insider trading norms.Sebi, pursuant to investigation in the matter of selective disclosure of unpublished price sensitive information by MFL, observed that the two fund houses had sold its shares while allegedly in possession of UPSI during March 1-20, 2013 and allegedly violated PIT (Prohibition of Insider Trading) Regulations.Sebi noted that officials of MFL met Ambit Capital Pvt Ltd's research analysts on March 18, 2013 to seek market guidance about the quarterly results and future outlook.Ambit published a research report based on the meeting which was distributed to its clients (broking as well as research) on March 19, 2013 before the market opening hours.In the research report, Ambit had changed its rating of MFL's stock from "buy" to "under review."Ambit published the report based on the meeting which was distributed to its clients (broking as well as research) on March 19, 2013 before the market opening hours.The information of negative profit for the fourth quarter of FY2012-13, which is deemed to be price sensitive information, was disclosed to the stock exchanges by MFL on March 20, 2013 after market hours and the information was already in the public domain before that.Sebi said the asset management companies (AMCs) were not in a position to know that the information that was distributed in the research report or discussed in the conference call or being covered by media is UPSI.The transactions of the asset management companies was purely from the point of view of the unit holders in the mutual fund and selling of the scrip of MFL during that time was necessary to avoid significant loss to the unit holders in the scheme, since the price of the scrip was rapidly falling after the research report was issued in the morning of March 19, 2013, it added."I do not find a reasonable and acceptable degree of probability towards proving beyond doubt or even, without existence of significant doubt that Noticee (the two fund houses) had traded in the scrip of MFL when in possession of UPSI and hence, the allegation of violation of...PIT Regulations...does not stand established," Sebi Adjudicating Officer Vijayant Kumar Verma said in similarly worded separate orders."I hereby dispose of the SCN (show cause notice) in the matter without any penalty," he added.Last month, Sebi had disposed of insider trading allegations against IDFC Asset Management Company and BNP Paribas Asset Management in the same matter. SP SHWBAL

Manappuram Fin: Sebi disposes of insider trading charges against SBI MF, Aditya Birla Sunlife MF

Gold loan providers in India face a rise in robberies as gold prices rise

We bet you haven’t heard of <keyword id="2596302" type="PERSON" weightage="100" keywordseo="Dolly-Khanna">Dolly Khanna</keyword>. There are many<a href="http://www.businessinsider.in/searchresult.cms?query=investor&amp;sortorder=effectivedate"> investors </a>who are making a killing in <keyword id="6357440" type="ENTERTAINMENT" weightage="20" keywordseo="stock-market">stock market</keyword> and she is one of them. 
 
Chennai-based marquee investor, Khanna is worth over Rs 200 crore and all this by investing in lesser known stocks and identifying them at the right time. 
 
Khanna is named among the top individual investors on <a href="http://www.businessinsider.in/searchresult.cms?query=dalal+street&amp;sortorder=effectivedate">Dalal Street</a>. In 2014, she picked Nilkamal, one of India's top manufactures of home and office furniture, and in last three years, the stock went up nearly 900%. This means an investment of Rs 1,00,000 in the stock back then would have become nearly Rs 10 lakh in three years. 
 
As per the <a href="http://www.businessinsider.in/searchresult.cms?query=BSE&amp;sortorder=effectivedate">BSE</a> website, Khanna bought 1.02% stake in the company in the first quarter of 2014. Presently, she holds around 1.60% stake in the company. 
 
The stock has soared 897 per cent, or nearly 10 times, to Rs 1,966.25 as of March 20, 2017 from Rs 197.30 on March 31, 2014 
 
"We like Nilkamal, because the organised sector in plastics and furnishings is actually gaining a lot of ground compared with unorganised players, which own a substantial part of the market,” Deepak Shenoy, Founder, Capital Mind, told ETNow earlier this month. 
 Khanna has been investing in the domestic stock market since 1996 and her portfolio is entirely managed by her husband <keyword id="321990" type="PERSON" weightage="20" keywordseo="Rajiv-Khanna">Rajiv Khanna</keyword>. Besides Nilkamal, Trident and Manappuram <keyword id="25455" type="ORGANIZATION" weightage="20" keywordseo="finance">Finance</keyword> are two notable companies in which Dolly Khanna held 1.03 per cent and 1.13 per cent stakes as of December 31, 2016.

Meet Dolly Khanna, a Chennai-based investor who is making a killing in stock market and is worth over Rs 200 crore

Gender diversity can bring great value to an organization and its business strategy. With this in mind, <a href="http://www.businessinsider.in/This-is-how-Google-is-planning-to-digitize-India/articleshow/46823354.cms">mobile platforms</a> are going beyond just being a means of communication. 
In developing countries, 200 million fewer women than men are online, and 300 million fewer women own a mobile phone (No Ceilings: The full participation report, March 2015). 
 
Yet, research also shows that the impact of empowering women financially is tremendous starting with their ability to raise the living standard of the entire household given that they are more likely to spend their income on establishing healthier and sustainable lifestyles for their families. 
 
Hence, mobile platforms have taken the noble task of <a href="http://www.businessinsider.in/DigitalIndiaWeek-PM-tells-us-why-we-needDigital-India/articleshow/47899187.cms">financially and socially empowering the world</a>. This is the true meaning of the ‘Digital World’. While <a href="http://www.businessinsider.in/PMO-App-Contest-Google-To-Turn-Narendra-Modis-Dream-Of-Digital-India-Into-A-Reality/articleshow/43243495.cms">Narendra Modi</a> is still struggling with the aims and objectives of <a href="http://www.businessinsider.in/All-you-need-to-know-about-the-Digital-India-campaign/articleshow/47878628.cms">Digital India</a>, these mobile platforms are <a href="http://www.businessinsider.in/A-Step-Toward-Digital-India-10-Crore-Aadhaars-Linked-To-Bank-Accounts/articleshow/45523974.cms">serving the campaign </a>to the truest of its meaning. 
 
1. Tata Communications- To financially empower 25,000 women in the developing world, part of a larger vision to ultimately reach 100 million women, the global telecommunications company and global payments technology company join forces with a unique network of partners including Brightstar Corp, Kiva, Tone, Trickle Up and the Hidary Foundation to bring their shared vision to life over the next five years through access to transformative mobile platforms comprising a range of financial, health and education applications and services. 
 <keyword id="6370462" type="CITY" weightage="100" keywordseo="Tata-Communications">Tata Communications</keyword>, <keyword id="6368201" type="CITY" weightage="100" keywordseo="MasterCard">MasterCard</keyword> and its network of partners will realize this vision by taking a non-linear implementation approach as is often taken in the technology sector. The program will kick-off with pilot projects in India, Nigeria, Indonesia and Guatemala, targeting 25,000 women, serving as microcosms. The replication of these microcosms will enable scale with a vision to reach 100 million women by 2020. 
 For financial inclusion, Tata Teleservices started a unique venture <keyword id="1519481" type="UNKNOWN" weightage="100" keywordseo="mRupee">mRupee</keyword>, a semi closed wallet that offers operator agnostic service. It works towards creating products for all customers who can now have a choice of cashless dealings. 
 mRUPEE has partnered with Manappuram <keyword id="25455" type="ORGANIZATION" weightage="100" keywordseo="finance">Finance</keyword> Ltd, one of India’s leading gold loan NBFCs for providing a convenient and secure alternative physical and online repayment option to its customers 
 It recently partnered with <keyword id="6653" type="CITY" weightage="100" keywordseo="ICICI-bank">ICICI Bank</keyword> to provide Delhi Metro users with an easy recharge facility. They can now recharge their metro cards at close to 1000 mRUPEE outlets of Mobi Wallet Payment Systems (MMPL). 
 
 
2. <keyword id="89024" type="ORGANIZATION" weightage="100" keywordseo="Ernst-and-Young">Ernst and Young</keyword>- Ernst and Young started its financial inclusion venture in Brazil. Brazil is suffering from financial problems for over a decade now. This is coupled with availability of poor data connections. Despite the complexities, the functionality of the mission is relatively simple for the user. With the card or a cellphone, the client can make payments, recharge pre-paid cellphones, make B2B transactions and have access to individual customer care. The product is designed not only for individuals, but also for very small merchants. To reach these consumers, bank branches and wireless retail stores work as the main sales and recharge channels for this product. 
 
 
 
3. <keyword id="6356812" type="CITY" weightage="100" keywordseo="Ericsson">Ericsson</keyword>- Ericsson India has an exclusive program, ‘Blue River Project’, to raise awareness on Diversity and Inclusion at the workplace. 
 
As a long-term goal, Ericsson aims to have one third of its employees as women by 2020. Taking a step towards this goal, Ericsson is breaking the norm by hiring more female candidates in fields dominated by men. In its Operations Team, which is a male dominant area, Ericsson has hired 50 women in recent past. 
 
 
4. MasterCard- MasterCard’s FINCA Project broadens financial service delivery channels, strengthens staff capacity, scales up savings, and measures social performance. 
 
It allows the region’s financially underserved people to more easily access savings products and services through the development and deployment of new technologies. By making access to savings accounts and services more readily available, it is anticipated that the number of people creating their own financial safety nets will increase dramatically in coming years. 
 This initiative targets low-income and unbanked individuals in Malawi, <keyword id="89578" type="COUNTRY" weightage="100" keywordseo="Tanzania">Tanzania</keyword>, and Zambia with a focus on women. 
 FINCA <keyword id="12925" type="ENTERTAINMENT" weightage="100" keywordseo="Africa">Africa</keyword> currently provides financial services to more than 295,000 borrowers and nearly 417,000 savers living in the Democratic Republic of Congo, Malawi, Tanzania, Uganda and Zambia. 
 
 
5. <keyword id="91294" type="CITY" weightage="100" keywordseo="American-Express">American Express</keyword>- The <keyword id="335912" type="COMPANY" weightage="100" keywordseo="Bluebird">Bluebird</keyword> from American Express is a checking account/debit card alternative with a lot of great features that can save you money and earn points in the process. 
 
It includes no charges for opening an account online, overdraft, inactivity, card replacement, foreign transactions, and no annual or monthly fees 
 
Because the Bluebird works like an ATM card, you can put value on the card and then withdraw it as cash without an ATM fee if you have direct deposit linked to your account. 
 
Just like any other bill, your Bluebird can be used to pay taxes and you get hit with lower fees (like $3-4 rather than 2-3% of the transaction) than you would using a credit card. 
 
 
(Image credits: Indiatimes, wsj, ericssonblueriver, muya, finca)

How Mobile Platforms are driving a true ‘Digital India’

The <keyword id="21627536" type="General" weightage="100" keywordseo="gold-loan-market" source="keywords">gold loan market</keyword> in <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> is on the cusp of substantial growth, driven by rising per-gram gold rates and increasing customer demand. Currently, the market is predominantly controlled by the <keyword id="21485305" type="General" weightage="20" keywordseo="unorganized-sector" source="keywords">unorganized sector</keyword>, which holds a 63 % share, while <keyword id="22789155" type="General" weightage="20" keywordseo="organized-players" source="keywords">organized players</keyword>, including banks and Non-Banking Financial Companies (<keyword id="19938300" type="General" weightage="20" keywordseo="NBFCs" source="keywords">NBFCs</keyword>), account for the remaining 37 %, according to a recent <keyword id="20055667" type="General" weightage="20" keywordseo="PwC" source="keywords" meta.keywordsubtype="org" meta.entityname="PwC" meta.hostid="83" meta.entityid="PwC">PwC</keyword> report. Indian households are estimated to possess approximately 25,000 tonnes of gold, valued at around Rs 126 lakh crore. Despite this vast wealth, the existing gold loan market through organized channels is valued at just Rs 7.1 lakh crore. With the market penetration of gold loans in India currently at only 5.6%, there is considerable untapped potential within <keyword id="22902023" type="General" weightage="20" keywordseo="household-gold-holdings" source="keywords">household gold holdings</keyword>. Although not all gold is available for pledging--due to factors such as religious significance, emotional value, or lack of financial need--there remains substantial opportunity for growth in the gold loan sector. The gold loan market in India has historically been dominated by the unorganized sector. However, in recent years, organised players, particularly NBFCs, have begun to gain market share. Banks, too, have been making inroads, especially through retail gold loans and a continued focus on agricultural gold loans. This shift is expected to continue as organised players leverage their formal lending structures, transparency, and customer trust to capture a larger share of the market. Shaji Varghese, CEO, Muthoot FinCorp Limited, "Gold loan assets have been growing steadily and the potential to grow further is high since a major part of the country's gold loan market is still in the unorganized sector. <keyword id="19910265" type="General" weightage="20" keywordseo="gold-prices" source="keywords">Gold prices</keyword> have been rising over the years. There is also a paradigm shift on how buying gold is perceived today. Traditionally gold was purchased for historical, cultural and societal reasons and while that continues, people have started buying gold as an investment and also as a convenient option to raise funds for financial requirements." India remains one of the world's largest consumers of gold, with total demand reaching 747 tonnes in 2023. However, this represented a 3% decrease compared to the previous year, primarily due to the surge in gold prices, which dampened demand for gold jewellery. The price of gold in India increased from Rs 55,375 to Rs 66,532 per 10 grams (22 carats) between November 2023 and May 2024, prompting a shift towards lightweight or lower-carat jewellery items. Globally, the demand for gold grew by 3 % in 2023, with China emerging as the largest market. The global market's expansion presents opportunities for Indian gold loan financiers to explore new avenues for growth beyond domestic borders. Gold's relationship with the US dollar is a key factor influencing gold prices in India. A weakening rupee often leads to an increase in gold prices, as gold is priced in USD internationally. This dynamic drives higher imports and increases the cost of gold in rupees, further fuelling demand as investors seek a safe haven against currency fluctuations. V.P. Nandakumar, Managing Director and Chief Executive Officer, Manappuram Finance Ltd, "Of late, the sharp increase in gold prices has imparted some stability to the gold loan book of most players and we do not expect gold prices to come down due to geo-political factors, the accumulation of gold by central banks as well as the lasting allure of the yellow metal." The securitisation of gold through various financial instruments offers new avenues for gold loan players to diversify their offerings. By using gold-based security as collateral, established players can introduce new loan products that leverage the intrinsic value of physical gold.

India's gold loan market set for rapid growth amid rising prices; unorganized sector holds 63% share, notes recent PwC report

<div type="image" title="RBI" agency="ANI" height="900" width="1200" msid="105464045" hostid="261" sizebytes="40796" caption="&amp;lt;p&amp;gt;RBI&amp;#39;s vigilance: New consumer credit norms to bolster India&amp;#39;s financial stability amidst surging loan growth&amp;lt;/p&amp;gt;"></div>In a proactive move aimed at mitigating potential systemic risks associated with the rapid growth of <keyword id="437168" type="General" weightage="20" keywordseo="consumer-credit" source="Orion">consumer credit</keyword>, the Reserve Bank of India (<keyword id="30067" type="General" weightage="20" keywordseo="rbi" source="Orion">RBI</keyword>) has implemented stringent measures, impacting both banks and non-bank financial institutions (NBFIs). <keyword id="125045" type="General" weightage="20" keywordseo="fitch-ratings" source="Orion">Fitch Ratings</keyword> has provided insights into the repercussions of these regulatory adjustments on the financial sector. The central focus of the regulatory adjustments is to mandate banks and NBFIs to allocate more capital against unsecured consumer credit. Fitch Ratings views these changes as a credit-positive effort by regulatory authorities to control emergent risks in consumer credit. Notably, the growth of unsecured credit card loans and personal loans by banks witnessed an impressive 29.9 per cent and 25.5 per cent year-on-year increase, respectively, in the first half of the financial year ending March 2024. This surge in consumer credit raised concerns, prompting the need for preventive measures. The increasing exposure to unsecured consumer credit considered a riskier <keyword id="6360217" type="General" weightage="20" keywordseo="loan" source="Orion">loan</keyword> category, signals a greater risk appetite among banks and NBFIs. This trend is attributed to the institutions seeking to protect net interest margins (NIMs) amid fierce competition for secured retail loans. The regulatory changes introduce higher risk weightings, aligning for both banks and NBFIs. While risk weightings for credit-card lending increase to 125 per cent (from 100 per cent previously) for NBFIs, banks maintain a higher 150 per cent. Microfinance is excluded from higher risk weights for NBFIs, distinguishing it from banks. Fitch Ratings estimates that the measures may lower the common equity Tier 1 (CET1) ratio of the banking system by around 30 basis points. The impact varies for Fitch-rated banks, ranging from 6 to 34 basis points, with a double-digit impact expected for private banks like State Bank of India (SBI) and Canara Bank. Private banks, with relatively better CET1 capitalization, are expected to maintain reasonable capitalization even after the changes. The measures, however, may not significantly lower banks' capital scores or standalone Viability Ratings (VRs), though SBI's VR headroom could narrow. Fitch-rated NBFIs, including Shriram Finance Limited, Muthoot Finance Ltd, IIFL Finance Limited, and Manappuram Finance Limited, witness an impact on capitalization ratios, loan growth, and future asset quality. However, the overall impact is expected to be limited, with these entities benefiting from reduced systemic risk. NBFIs may experience a rise in bank funding costs by 40 to 60 basis points. This assumes that banks pass on capital costs from higher risk weights on loans to NBFIs. Larger NBFIs are better positioned to negotiate favorable terms with banks, while lower-rated entities could face greater increases. Loans to housing finance companies and NBFIs eligible for priority sector classification are excluded from the adjustment, benefiting entities like Shriram due to their priority sector exposure. The regulatory changes aim to strike a balance between fostering consumer credit growth and preventing the buildup of systemic risks. The phased implementation of these measures underscores the regulators' commitment to maintaining financial stability while allowing financial institutions time to adapt to the new norms. As India's financial landscape undergoes these adjustments, stakeholders are closely monitoring the impact on lending practices, risk management, and overall economic resilience. (ANI)

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