gold loanImage Credit source: PTI
The number of people taking loans against gold pledge in the country has increased rapidly. Especially in NBFC companies. This has been revealed in the latest report of RBI. In fact, in May, the outstanding loans given against gold jewelery by non-banking financial companies i.e. NBFCs registered an increase of almost 70 percent on an annual basis.
According to data released by the Reserve Bank of India on Tuesday, the outstanding loans given against gold jewelery by the end of May 2026 stood at Rs 3.29 lakh crore, which was Rs 1.94 lakh crore a year ago. That means it has seen a growth of 69.9 percent in one year.
Loans are increasing rapidly in these segments
In the retail loan segment, home loans, car loans and loans against gold recorded strong growth during May. During this period, total retail loans increased by 19.5 percent on an annual basis, whereas it had increased by 14.9 percent in the same period a year ago. Apart from gold loans, the outstanding loans given by NBFCs to the commercial sector recorded the second highest growth. It increased by 40.2 percent on an annual basis to reach Rs 1.19 lakh crore in May, which was Rs 85,317 crore a year ago.
Agriculture loan also increased
Apart from gold loans, home loans, car loans, loans for agriculture and allied activities also remained strong. In May, 2026, it recorded an annual growth of 17.9 percent, which is much higher than the five percent growth recorded in the same period last year. According to RBI data, the growth rate of loans given to the industrial sector declined to 7.3 percent in May, which was 10 percent a year ago. The main reason for this was the slowness in the growth of loans given to the infrastructure sector. Similarly, the growth rate of loans given to the service sector also declined from 23.9 percent in May, 2025 to 16.7 percent on an annual basis. According to RBI data, the trend of taking gold loan, especially from NBFC, has increased rapidly.
