National News
Shringar House of Mangalsutra Ltd opens its first branch office in Delhi
Bringing North India closer to the heart of mangalsutra excellence
Shringar House of Mangalsutra Limited, India’s most trusted and respected name in mangalsutra manufacturing, proudly announces the opening of its first-ever North India branch office in Delhi, a strategic move designed to better serve the region’s thriving retail and wholesale jewellery community.
Situated at a prime location — Office No. 301/302, Building No. 1149, Kucha Mahajani, Chandni Chowk — the new branch lies right at the entrance of the historic gold jewellery market, making it easier than ever for North Indian partners to experience Shringar’s hallmark craftsmanship, service, and wide-ranging collections, all under one roof.
The grand inauguration ceremony was attended by prominent figures from the jewellery industry, retail partners, and esteemed clients. This launch is more than a milestone—it is a message to the industry: Shringar is now closer, faster, and more accessible to its partners in North India.
Chetan Thadeshwar, Chairman & MD, shared his thoughts on this new chapter: “Opening our Delhi branch is more than just an expansion—it’s a reflection of our dedication to bringing the finest craftsmanship, contemporary designs, and unmatched reliability closer to our partners in North India. This milestone is part of our long-term vision to build a strong pan-India network that supports retailers, wholesalers, and the growing demand for organized mangalsutra retailing.”
Viraj Thadeshwar, CEO, added: “Our North Indian retailers and wholesalers have been vital to our journey, and this move is dedicated to them. Being here in Delhi allows us to respond faster to market needs, offer region-specific collections, and strengthen our commitment to service excellence. We’re not just expanding—we’re evolving to serve our partners better, with a clear goal to be their most dependable mangalsutra partner.”
With decades of experience and state-of-the-art gold jewellery manufacturing, Shringar House of Mangalsutra Limited has built a strong reputation over the years for its unmatched quality, innovative designs, and organized business practices, serving thousands of jewellers across the country. Shringar continues to lead the Indian jewellery market in mangalsutra category with precision and passion. Their Delhi office expansion is set to serve as a vibrant hub for new launches, live previews, order assistance, and collaborative growth.
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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