Mumbai, Dec. 22 -- Bank credit data show that loans against gold jewellery have been recording triple-digit growth rates since February 2025, far outpacing overall credit expansion, according to the Reserve Bank of India's State of the Economy report for December 2025.

While gold loans still account for a relatively small share of total non-food credit, their proportion has nearly doubled over the past year, indicating a rapid change in borrowing preferences, it said.

As per the recent RBI data, the loans against gold jewellery have become the unlikely star of retail credit with outstanding balances in this category surging 128.5% year-on-year to Rs 3.38 lakh crore in October 2025.

A sharp rise in gold-backed lending in recent months p...