National News
Outstanding gold-backed loans surge by 128% from a year earlier
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.
National News
Instamart and Kalyan Jewellers Enable Customers To Lock Today’s Gold Price For Akshaya Tritiya
Gold Rate Protection by Instamart & Kalyan Jewellers enables confident buying this Akshaya Tritiya
This Akshaya Tritiya, jewellers are making it easier for gold buyers to plan despite changing prices. Instamart, India’s pioneering quick commerce platform, has partnered with Kalyan Jewellers to facilitate Gold Rate Protection, a first-of-its-kind feature that lets consumers lock today’s gold rate and buy on the day of Akshaya Tritiya, for whichever price is lower – the lock-in price or the market rate on that day.
Gold holds enduring significance during Akshaya Tritiya, symbolising prosperity and auspicious beginnings. As customers plan their purchases in the lead-up to the festival, ease and assurance become equally important. Instamart’s Gold Rate Protection makes it both convenient and reassuring for users ordering BIS hallmarked gold coins from Kalyan Jewellers.
How It Works
Between April 10 and April 16, 2026, consumers can select eligible Kalyan Jewellers gold coins on the Instamart app and pay 5% advance, starting from Rs. 500 for a 0.5 gm gold coin, to prebook and take delivery on Akshaya Tritiya. On April 19, between 8:00 AM and 12:00 PM IST, they complete their purchase at the lower of the two prices – gold rate on the day of pre-booking or as per delivery date, whichever is lower. All pre-booked customers will also receive a free silver coin from Kalyan Jewellers.
Arjun Choudhary, VP Growth, Instamart, Said:

“At Instamart, we’ve consistently looked to innovate around how Indians shop for precious metals during key occasions, from delivering 1 kg silver bricks during Dhanteras to introducing silver Rakhis for Raksha Bandhan. The Gold Rate Protection is a feature designed to help consumers navigate gold prices with greater confidence during the festival. By allowing users to secure a price in advance while still benefiting from any price drops, we strive to offer strong overall value to consumers. This is quick commerce going beyond convenience to deliver meaningful value on culturally significant purchases.”
Ramesh Kalyanaraman, Executive Director, Kalyan Jewellers, Said:
“Gold rate protection has been a preferred feature across Kalyan Jewellers’ retail showrooms, offering customers greater assurance while planning their festive purchases. With Instamart, we are extending this for the first time to a quick commerce platform. As traditions evolve, we remain committed to making gold buying both meaningful and seamless.”

Last year, Instamart witnessed a surge of over 500% in gold and silver coin sales on Akshaya Tritiya compared to Dhanteras, underlining the growing appetite among Indian consumers for quick commerce as a trusted channel for auspicious purchases.
This initiative is the latest in Instamart’s continued effort to go beyond everyday essentials, cementing its role as a destination for meaningful, occasion-led purchases delivered with the speed and trust its customers have come to rely on.
All gold and complimentary silver coins* are BIS Hallmarked, 24 Karat Kalyan Jewellers gold coins, will be subject to availability* and subject to the terms of the offering.
T&C Apply
Gold Price Lock is a limited-period seller-led offer on select Kalyan Jewellers products listed on Instamart. A price-lock charge is required and will be adjusted against the final purchase made on April 19, 2026, between 8:00 AM and 12:00 PM IST. The final price will be the lower of the locked rate or prevailing market rate on the day. Offer, including a complimentary silver coin, is subject to availability and additional terms and conditions.
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