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.
Gold exchange-traded funds in India saw net inflows of a record ₹68,867 crore in the financial year 2026. This represented a 364% year-on-year increase, or about 4.5 times more than the prior year. The growth outpaced equity and debt funds, capturing nearly 10% of total mutual fund inflows.
Reported by AI
Indian banks achieved a record consolidated net profit exceeding ₹4 lakh crore in FY26. Top lenders including State Bank of India, HDFC Bank, and ICICI Bank contributed more than half of the total.
AU Small Finance Bank posted steady growth in the fourth quarter, with deposits rising 23% year-on-year to Rs 1.52 lakh crore. Advances increased by 25% over the same period. The bank's stock fell despite the positive operational results.
Reported by AI
L&T Finance announced a 27 percent increase in its profit after tax for the March quarter, reaching Rs 807 crore. The company attributed the growth to a sharp rise in interest income and strong retail loan disbursements. Its core net interest income also showed an upward trend.