Global News

[ad_1] Gold loan growth for NBFCs is influenced by change in the prices of the precious metal. (Representative image) In fiscal 2023, gold prices rose 10 per cent, with loan books rising in tandem, supported by bigger ticket sizes. The market share of gold-loan focused non-bank financial companies (NBFCs) has been resilient at over 60 per cent between March 2021 and September 2023, despite strong competition from banks, says a report. According to a Crisil Ratings report, the NBFCs continue to hold onto their market leadership with 61 per cent of the market in the September quarter, down by 100 bps on-year. During the pandemic year in FY22, these NBFCs, however, enjoyed 64 per cent of the market when it stood at Rs 2 lakh crore, the agency said, adding in the year before their share had stood at 61 per cent of the Rs 1.9 lakh crore market then. In FY23, their share had fallen by 200 bps from FY22 to 62 per cent of the Rs 2.3 lakh crore market. Though private players lead with near...