2 weeks ago
L&T Finance plans 26 new West Bengal gold-loan locations
A big company called L&T Finance helps people borrow money by keeping their gold jewelry as security.
It is growing its gold-loan business in a state called West Bengal in India.
Right now it has 28 places there where people can get these loans.
It wants to open 26 more such places by March 2027.
Four of the new places will be in the city of Kolkata.
One year ago, it had no gold-loan places in West Bengal at all.
Now people there have borrowed about 165 crore rupees from the company.
The whole gold-loan market in West Bengal is very big, worth about 47,000 crore rupees.
The Reserve Bank of India also made new rules for gold loans recently.
The company says these new rules bring transparency and will help the gold-loan business grow.
L&T Finance plans to add 26 gold-loan locations in West Bengal, including four in Kolkata, by March 2027.
The company currently operates 28 locations in West Bengal, including four in Kolkata.
The move is part of a broader strategy to add about 100 new branches across eastern India and about 500 branches this financial year, taking the total network to around 843 branches.
L&T Finance had no gold-loan branches or portfolio in West Bengal a year ago; its gold-loan outstanding in the state has now risen to around Rs 165 crore.
The company's company-level gold-loan book stood at Rs 3,829 crore in the first quarter of FY27, after it acquired and integrated Paul Merchants Finance Ltd.'s gold-loan business in June 2025.
- Who
- L&T Finance Ltd, with comments from Raju Dodti, Whole-time Director and Chief Operating Officer.
- What
- Expansion of its gold-loan business with 26 new locations in West Bengal by March 2027, amid new Reserve Bank of India regulations.
- Where
- West Bengal, including four new locations expected in Kolkata.
- When
- Announced on August 18, 2026; expansion target is March 2027.
- Why
- To strengthen its presence in one of the country's large gold-credit markets, supported by regulatory clarity and branch expansion.
Key facts
- Company
- L&T Finance Ltd
- Current locations in West Bengal
- 28, including four in Kolkata
- Planned new locations in West Bengal
- 26 by March 2027, including four in Kolkata
- Gold-loan outstanding in West Bengal
- Around Rs 165 crore
- West Bengal gold-loan market size
- Estimated around Rs 47,000 crore
- Market share in West Bengal
- 2.2 per cent (CRIF data)
- Company gold-loan book (Q1 FY27)
- Rs 3,829 crore
- Average gold-loan ticket size
- Around Rs 2.6 lakh per customer
Quotes
Raju Dodti
Whole‑time Director and Chief Operating Officer of L&T Finance
“"Lenders are not interested in selling the gold. L&T Finance certainly is not interested. Whenever the gold has to be sold, that will be our last resort to recover."”
theprint.in
freepressjournal.in
“People took time to calibrate that into their technology platforms.”
freepressjournal.in
Sources
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