National News

Mumbai Wholesale Gold Jewellers Association’s Game Changer Event Concludes Successfully

Published

8 months ago

July 2, 2025

1,069 Views

Mumbai’s prominent jewellery business organization, Mumbai Wholesale Gold Jewellers Association, in collaboration with its Youth Wing, organized a spectacular business growth-oriented event at the Fine Arts Auditorium, Chembur, on June 28. The event featured a powerful motivational session by renowned speaker Dr. Ujjwal Patni.

Dr. Ujjwal Patni shared transformative insights with members and dignitaries on how to grow in business and life. He presented innovative ideas for the youth to enter the jewellery industry with a fresh perspective. A large number of jewellery business professionals were present for the event.

In the “Game Changer” session, Dr. Patni shared global insights on opening new doors for jewellery businesses even in challenging conditions. With simplicity and clarity, he explained success strategies. His delivery was appreciated by everyone, including (JITO) Mumbai Zone Chairman Dr. Vinay Jain, who shared his own inspirational journey.

Present at the event were GJEPC Chairman Kirit Bhansali, Immediate Past Chairman GJC Saiyam Mehra, Dr. Vinay Jain (JITO) Mumbai Zone Chairman, Hitesh Jain– Zaveri Bazaar Association Chairman, and event sponsors like Sky Gold & Diamonds Ltd’s Mangesh Chauhan, Mahendra Chauhan, Darshan Chauhan and others. Dr. Patni was felicitated by the Mumbai Wholesale Gold Jewellers Association for his impactful session.

To make the event successful, notable contributions were made by Association President Mahesh Bafna, Secretary- Shreyansh Kothari, Treasurer- Kamal Mehta, Vice President Sandeep Kothari & Dinesh Kothari, Joint Secretary- Rinku Bafna, Convenor- Rajesh Kothari along with Immediate Past Secretary- Anil Pamecha.

President Mahesh Bafna said, “I sincerely thank all our members and firmly believe that the Game Changer session will serve as a milestone in driving positive transformation in both business and society. It was a memorable and motivational event—one that will be remembered for a long time.”

National News

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

Published

52 minutes ago

February 28, 2026

JewelBuzz Spread The Buzz

1,396 Views

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.