Loan against Gold
If you are hard up for cash and need the money immediately, consider pledging gold. But remember, there are serious pitfalls, explains Debashis Basu
You can see their advertisements all over: Muthoot Finance, Muthoot Fincorp (the two entities are separate) and Manappuram Finance. They specialise in lending money against gold. All three companies are from Kerala and are spreading at a rapid pace across the country—at least that’s what their business plans claim. Apparently, people are thronging their offices to avail of loans against gold. The organised gold-loan market in India grew at a compounded annual growth rate (CAGR) of around ...
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