BENGALURU – Record-high gold prices have driven a sharp increase in gold loans across India, as families leverage their jewelry to address financial needs. Mrs. Mamata Kanthayya, a 45-year-old part-time nurse, secured a loan against one of her gold bangles to repair her home’s leaky ceiling ahead of the monsoon season. Despite her husband’s reluctance, she saw no alternative given his limited income as a painter.
“Gold loans were the only way out,” she said, reflecting a growing trend among households turning to such loans amid economic pressures and soaring gold valuations.