National News
Candere Unveils New Store in Panvel, Navi Mumbai and marks 7th outlet in Mumbai
The launch marks a milestone in Candere’s growth journey, following the announcement of Shah Rukh Khan as brand ambassador.
Candere, the lifestyle jewellery brand by Kalyan Jewellers known for its contemporary and trend-driven designs, has further strengthened its presence inMumbaiwith the launch of its 7th store in the city, located in Panvel, Navi Mumbai. With this addition, Candere now operates 77 stores across India, reflecting its commitment to bringing distinctive jewellery collections to a wider audience in the region.
This expansion marks a significant milestone in Candere’s retail growth journey in Mumbai and across the country, aimed at making its jewellery more accessible to customers. It also reinforces the brand’s long-term strategy of seamlessly integrating its online and offline channels to provide a unified and convenient shopping experience.
Candere is favoured for its lightweight, versatile pieces that resonate with Gen Z, working professionals, and style-conscious men. The brand focuses on offering modern, trend-forward designs at accessible price points—starting from ₹10,000—allowing customers to express their individual style with ease. These collections are also perfect for thoughtful gifting and celebrating special occasions.
To celebrate the new store opening, Candere is offering exclusive offers: Flat 20% off on Diamond & Solitaire stone prices and flat 25% off on making changes for gold and platinum jewellery.
Evolving from a digital-first brand to a strong omni-channel retailer, Candere continues to offer a smooth and engaging shopping experience both online and in-store. Backed by the legacy and trust of Kalyan Jewellers, the brand is steadily expanding, offering jewellery that does more than just beautify—it tells a story of individuality and style.
With the opening of its latest showroom in Panvel, Navi Mumbai, Candere reaffirms its promise to design jewellery that resonates with evolving customer preferences and celebrates life’s memorable moments.
India’s appetite for borrowing against gold is reshaping the country’s credit landscape. Outstanding gold-backed loans have surged 128% from a year earlier, crossing Rs.4 lakh crore ($48 billion) for the first time, according to data from the Reserve Bank of India. As of Jan. 31, loans secured by gold jewellery stood at Rs.4,00,517 crore, marking one of the fastest expansions in retail credit in recent years.
The boom in gold loans has helped propel overall non-food bank credit growth to 14.4% year-on-year. Personal loans now account for 34.5% of total bank lending, outpacing other segments and underscoring a broader shift toward consumer-driven credit expansion
Gold loans alone contributed roughly 9% of incremental bank credit during the period. Between January 2024 and January 2026, outstanding gold-backed credit rose by nearly Rs.3.1 lakh crore—an increase of about 338% over two years—more than quadrupling the size of the portfolio.
Two factors are driving the surge. First, gold prices have climbed roughly 152% over the past two years, increasing the collateral value of household holdings. Second, regulatory guidance requiring banks to classify loans secured by gold explicitly as gold loans has sharpened reporting and accelerated balance-sheet growth in the segment.
The trend highlights a distinctive feature of India’s financial system: households’ vast stock of physical gold, long viewed primarily as a store of wealth, is increasingly being mobilized as collateral for formal credit.
While personal lending and credit to nonbank financial companies within the services sector continue to expand rapidly, industrial credit remains uneven. Loans to micro, small and medium enterprises are growing steadily, but borrowing by large corporations has stayed relatively muted.
Since March 21, 2025, banks have added Rs.21.8 lakh crore to their non-food loan books, translating into 12% growth for the financial year to date. Yet it is gold—rather than factories or infrastructure—that is emerging as one of the most dynamic engines of India’s current credit cycle.
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