Muthoot Finance, Manappuram Finance and IIFL Finance now collectively own 334 tonnes of gold, a record amount that tops the reserves of the United Kingdom and Brazil.
The three companies reached the milestone during FY26 as they expanded their bullion holdings. IIFL Finance recorded a large rise after it settled earlier regulatory matters. Manappuram Finance also increased its gold financing activities during the same period.
ICRA forecasts the gold loan market will expand amid rising non-performing assets linked to a shift toward monthly installments. NBFCs are expected to capture a larger share as new players enter the sector.
Reported by AI
Godrej Capital has outlined plans to grow its gold loan book to Rs 5,000 crore. The target forms part of a broader strategy that includes increasing specialized branches and raising overall assets under management.
Foreign portfolio investors are directing record amounts into India's government securities this month following recent policy adjustments.
Reported by AI
Domestic institutional investors raised their holdings in several large-cap Indian companies during the March 2026 quarter. Buying focused on financial, technology, telecom and industrial names even as share prices fell sharply.