Around 60% of India’s overall gold loan business is in the informal sector, according to the Muthoot Fincorp CEO. (Representative image: Envato) Show Quick Read Summary is AI Generated. Newsroom Reviewed

With nearly 60% of India’s gold loan business still operating in the informal sector, the biggest challenge for the financial ecosystem is to bring these loans under the formal and regulated framework, said Shaji Varghese, chief executive officer of Muthoot Fincorp, while speaking to NDTV Profit on Wednesday.

The comments come in the backdrop of a sharp surge in loans issued against the precious metal. The outstanding gold loans surged to Rs 2.94 lakh crore as on July 25 this year, up 122% compared to the same period in 2024, according to the recent data released by the Reserve Bank

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