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.
With gold prices rising by 28 per cent in 2020, banks have also started aggressively offering gold loans.PHOTO: REUTERS

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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