Gold loans shine amid gloom of India's Covid-19-hit 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

When her husband returned in June after losing his job in Abu Dhabi amid 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, she cooked ghee rice and chicken for lunch. While her family members took a nap, she arranged for a major gold loan company to send an executive to her home.

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A version of this article appeared in the print edition of The Straits Times on November 30, 2020, with the headline 'Gold loans shine amid gloom of India's Covid-19-hit economy'. Print Edition | Subscribe