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.
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.
Reported by AI
India reduced its holdings of US Treasury securities to $181 billion in April. The Reserve Bank of India simultaneously raised its gold reserves to 881 metric tonnes.
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.
Reported by AI
AU Small Finance Bank reported a 37% increase in net profit for the first quarter. The rise came amid stronger loan growth and better asset quality.