Agricultural gold loans are basically crop loans or loans given for agricultural or allied purposes against pledges of gold.
Representative image. (Photo Source: Freepik)
The Reserve Bank of India might be tightening its oversight on growth in the agricultural gold loan business, five people in the know told NDTV Profit. All five spoke on the condition of anonymity.Outstanding agricultural gold loans in the banking system stood at Rs 6.5 lakh crore as of March 2024, up 27% year-on-year, according to ICRA Ltd. In contrast, regular bank loans against gold jewellery stood at Rs 1.03 lakh crore, RBI data ...