3 weeks ago
NBFC gold jewellery loans jump 69%; RBI reports record growth
People in India sometimes borrow money by giving their gold jewellery to a lending company as a promise to pay the money back.
These loans are called gold loans.
New numbers from the Reserve Bank of India show that gold loans grew very fast this year.
In June 2026, the total value of gold loans was Rs 3.42 lakh crore, which is 69% more than the same time last year.
That made gold loans the fastest-growing type of loan for lending companies called NBFCs.
Loans for homes and vehicles also grew quickly, and loans to farmers grew a lot too.
However, loans to factories and big industries grew more slowly than before, mainly because of weaker lending to big infrastructure projects.
Overall, the data shows that people borrowing for their own needs is driving strong growth in NBFC lending.
Gold jewellery loans by NBFCs jumped 69.3% year-on-year to Rs 3.42 lakh crore at the end of June 2026, the fastest growth among major lending segments.
Outstanding gold loans stood at Rs 2.02 lakh crore a year earlier and Rs 1.44 lakh crore in June 2024.
NBFC retail credit growth accelerated to 20.3% year-on-year in June 2026 from 14.3% a year earlier, driven by housing, vehicle and gold loans.
Credit to agriculture and allied activities expanded 17.9% year-on-year in June 2026, up sharply from 5.1% in the same month a year ago.
Industrial sector credit growth slowed to 6.7% year-on-year from 10.3%, mainly due to weaker lending to infrastructure.
- Who
- Non-Banking Financial Companies (NBFCs) in India, as reported by the Reserve Bank of India (RBI).
- What
- Loans against gold jewellery jumped 69.3% year-on-year to Rs 3.42 lakh crore, the fastest growth among all major NBFC lending segments.
- Where
- India, with data reported from Mumbai.
- When
- At the end of June 2026, compared with June 2025 and June 2024.
- Why
- Robust consumer demand lifted retail credit, including gold, housing and vehicle loans, while agricultural credit also accelerated; industrial growth slowed due to weaker infrastructure lending.
Key facts
- Outstanding gold jewellery loans (June 2026)
- Rs 3.42 lakh crore
- Year-on-year growth in gold loans
- 69.3%
- Gold loans in June 2025
- Rs 2.02 lakh crore
- Gold loans in June 2024
- Rs 1.44 lakh crore
- NBFC retail credit growth (June 2026)
- 20.3% (up from 14.3%)
- Agriculture credit growth (June 2026)
- 17.9% (up from 5.1%)
- Industrial credit growth (June 2026)
- 6.7% (down from 10.3%)
- Data source
- Reserve Bank of India (RBI)
Sources
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