Gold loans a bright spot for Covid-hit Indian economy

With gold prices rising by 28 per cent in 2020, banks have also started aggressively offering gold loans. PHOTO: REUTERS
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KOCHI (Kerala) - When her husband returned in June after losing his job in Abu Dhabi during the Covid-19 pandemic, Mrs Sreedevi Rajendran took stock of how their family of five would manage financially for the rest of the year.

A week after his return, Mrs Rajendran cooked ghee rice and chicken fry for lunch and as her husband and children napped, arranged for a major gold loan company to send an executive to her home.

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