Across banks and NBFCs, India’s gold-loan portfolios have expanded rapidly in the last six months—by roughly ₹1 lakh crore—highlighting increased use of household gold as working capital and consumption buffer. Sector analysts attribute the surge to quicker underwriting, digital KYC flows, branch-lite models, and competitive interest bands relative to unsecured credit. Lenders’ risk teams note strong collateral comfort, while consumer segments value turnaround speed and transparent top-up features. With festive purchases, MSME cash-cycle gaps, and rural liquidity dynamics, portfolio momentum could stay firm. Investors will monitor ticket-size mix, loan-to-value prudence, and delinquency roll rates as volumes scale.