Even the jandhan yojana made significant impact on the business of the gold loan nbfcs . The unbanked people were made to open the accounts and the demonetisation pushed them further to the banks. That’s the biggest change has occured in the behaviour of the unbanked people who are the largest customers of the manappuram and muthoot. With COVID banks tasted the blood of the gold laons and they are pushing further. This is the most secured retail loan any bank can offer.
Currently all banks are focusing on only retail.
This is an irrevocable change and the gold loan nbfcs are here to die.
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