Finance
Most popular type of retail loan becomes more attractive after gold prices rise
A rise in the price of gold due to tariffs imposed in May will increase the loan amount that can be pledged against the value of the metal, thereby making gold-backed loans more attractive. © Reuters
MUMBAI — Loans taken out against gold, currently the most popular form of collateral in India, are set to see another robust year as domestic prices of the precious metal rise due to the imposition of higher import tariffs earlier this month.