Small borrowers raise their loan targets as gold prices shoot through the roof

As unsecured loans dried up post-lockdown and during the moratorium, borrowers have moved to gold loans; local gold prices have hit a record high, surpassing the psychological market ceiling of Rs 50,000 per 10 gram. Even some banks are preferring gold as collateral in sanctioning even working capital loans.

First published here: Small borrowers raise their loan targets as gold prices shoot through the roof