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‘Gehna for Behna’: Kalyan Jewellers Collaborates with Swiggy Instamart for Raksha Bandhan Gifting Campaign and visually engaging TVC featuring actress Sreeleela

A fully redeemable ₹2,100 Kalyan Jewellers voucher – free with every Rakhi on Instamart and visually engaging TVC featuring actress Sreeleela

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This Raksha Bandhan, Kalyan Jewellers is bringing heartfelt tradition and modern-day convenience together in a celebration designed to delight. The brand has launched a special festive campaign titled “Gehna to Your Behna” in collaboration with Swiggy’s quick commerce platform, and will be delivering ₹2,100 gift vouchers free with every Rakhi purchase on Instamart.

As part of this festive collaboration, Kalyan Jewellers is also retailing its exclusive collection of silver rakhis on Instamart. These Rakhis reflect the brand’s legacy of design and emotion and will be delivered in 10 mins through Instamart. Created to blend convenience with meaningful gifting, the initiative is aimed at helping siblings celebrate the festival – even when distance or packed schedules get in the way.

To bring the campaign to life, Kalyan Jewellers has launched a warm and visually engaging TVC featuring actress Sreeleela. The film walks viewers through the simple process from ordering the Rakhi to redeeming the jewellery voucher capturing how even a small gesture can become a lasting memory.

While the service is available across 100 cities in India, the voucher can be redeemed on gold or silver jewellery purchases at any of Kalyan Jewellers showrooms nationwide, over and above prevailing in-store offers. This value-added offering is a strategic move by the brand to connect with Gen Z consumers, a segment that values meaningful experiences, digital convenience, and accessible luxury. In keeping with the needs of today’s on-the-go consumer, a QR code included in each Rakhi pack allows users to extend the voucher’s validity until October 31st, 2025 – offering added flexibility and convenience.

Speaking on the collaboration, Ramesh Kalyanaraman, Executive Director, Kalyan Jewellers, shared: “At Kalyan Jewellers, we’re constantly exploring meaningful ways to stay connected with evolving consumer lifestyles. Our partnership with Swiggy Instamart is not just about delivering Rakhi gifts – it’s about creating new touchpoints with younger audiences who value speed, convenience, and thoughtfulness. Through this initiative, we hope to build lasting relationships with a new generation of customers, while continuing to honour the sentiments that make our festivals so special.”

Sharing insights on this special offering, Manender Kaushik, AVP & Category Head – Instamart, said: “Festivals carry deep sentimental value across India, and gifts are a way to express emotions – whether love, care, or appreciation for those closest to us. Despite the bickering and teasing all year round, this day is filled with banter but, at its core, heartfelt gratitude toward one another. At Instamart, we understand this, and that’s why we’ve teamed up with Kalyan Jewellers to bring something truly meaningful to our users – a gift that will last a lifetime. With just a few taps on Instamart, you can get the perfect Rakhi delivered within 10 minutes, alongside a Kalyan Jewellers voucher to help you go all out with your gift.”

Kalyan Jewellers has also announced exclusive in-store festive offers for Raksha Bandhan. Shoppers can avail 25% off on making charges, with an additional 25% off on purchases above ₹2 lakhs. The brand’s Special Gold Board Rate, the lowest in the market and uniform across all company showrooms, will also be applicable for a limited period.

Rooted in tradition and driven by innovation, Kalyan Jewellers continues to make every celebration more meaningful. Through thoughtful designs, strategic collaborations, and value-led offerings, the brand is redefining the joy of gifting for every generation. This Raksha Bandhan, Kalyan reaffirms its promise to make cherished moments shine brighter with a little extra sparkle and thoughtfulness.

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Outstanding gold-backed loans  surge by  128% from a year earlier

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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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