Gold loans are designed with such sensibilities, allowing individuals to retain the ownership of the gold assets while providing them with much-needed liquidity when needed. Also, the transformative impact of gold loans extends beyond individual borrowers to the broader community. In toto, gold loans have emerged as a transformative tool for economies like India, providing the much-needed liquidity, stimulating entrepreneurship, and fostering community. Given the freedom and benefits that gold loans offer, Indian households may find it as the right product to meet those innate desires and aspirations. (The writer is President, Retail Agriculture and Gold Loans, Kotak Mahindra Bank Ltd.)

Source: The Hindu May 31, 2024 05:45 UTC