Muthoot Finance Doubles FY26 Loan Growth Target to 35%

Muthoot Finance, a major company in India that gives loans using gold as collateral, has doubled its prediction for how much its loans will grow next year.

They now expect loans to grow by about 30-35%, up from a previous guess of 15%.

This is because many people are choosing to borrow money by pledging their gold.

This is happening because other types of loans, like small personal loans or credit card loans, are not as easy to get right now.

Also, the price of gold has gone up, making it more attractive to borrow against it.

The head of the company said that even well-off people are using this service, and it's not just for those in need.

He also mentioned that there's a lot of room for growth because banks have many more gold loans than companies like Muthoot Finance.