Last week, Suhasini Krishnan woke up to a call from her native place, telling her about an urgent requirement of Rs 1 lakh.
Dazed and confused, she decided to take her gold ornaments to a bank to raise funds.
Krishnan is not alone.
According to industry sources, the loan-against-gold market stands at Rs 79,000 crore, both organised and unorganised sectors put together.
The organised sector alone stands at Rs 40,000 crore, an increase of 40 per cent in the last one year.
Text: Business Standard
Reuters Images (Any unauthorised reproduction is strictly prohibited)
Also see: Gold vending ATMs may become a reality in India