New Delhi, March 19 (IANS) Indian households are sitting on an enormous reserve of gold, and that wealth is now quietly reshaping the country’s lending market, a report has said.According to a report by Morgan Stanley, Indian households collectively own more than 34,000 tonnes of gold.Kotak Mahindra Bank estimates this stockpile to be worth nearly $5 trillion. While most of this gold — around 90 per cent — still lies idle, it is increasingly being used as collateral to raise quick loans.Gold…
Latest Indian households News & Updates
Mumbai, Jan 17 (IANS) The Secretary of the Department of Financial Services (DFS), M. Nagaraju, on Saturday said that LIC has transformed into a tech-enabled and capital-efficient financial powerhouse, remaining one of the most trusted brands in Indian households. Speaking at LIC’s Strategy Meet here, the Secretary highlighted the company’s historic transformation from a traditional brick-and-mortar insurer into a digitally driven, value-focused organisation.“LIC has transformed into a tec…