Desk note · industry · NBFCs / household credit
Reporting on 20 October 2026 said gold-backed credit is the fastest-growing slice at Bajaj Finance, HDB Financial Services, L&T Finance, and IIFL Finance, with the combined gold-loan share near 10% in the September 2026 quarter as lenders tilt toward secured lending while unsecured and microfinance portfolios stay under stress.
On 20 October 2026, market data coverage said several large non-bank lenders are leaning harder on gold loans. Bajaj Finance, HDB Financial Services, L&T Finance, and IIFL Finance together carried gold-backed credit at close to 10% of their combined loan books in the September 2026 quarter. That share was about 9.3% in the June quarter and roughly 6.23% in the year-ago period. Reporters framed the segment as the fastest-growing line at those firms, even as unsecured personal loans and microfinance portfolios show strain from slower collections and tighter underwriting.
When unsecured credit cools, NBFCs still need assets that clear internal risk committees. Gold loans use pledged jewellery as collateral, which lets lenders lend quickly without relying only on salary slips or bureau scores. Borrowers often use the cash for working capital, medical bills, or festival spending, then repay when cash flow improves. For households, it is a way to unlock value from idle gold without selling heirlooms. For lenders, growth in secured books can offset slower disbursements in card and personal loan lines, though auction risk rises if gold prices swing or borrowers default.
If you borrow from an NBFC, compare gold-loan rates, processing fees, and auction clauses with personal loan quotes before pledging family jewellery. If you invest in NBFC stocks, read quarterly mix data: rising gold share can stabilise credit costs but may signal weaker appetite for unsecured growth. Watch RBI guidance on loan-to-value norms, gold price trends into Diwali, and whether smaller NBFCs copy the same pivot and compete away margins.
Telecom / IPO
On 22 October 2026, exchange data showed Jio Platforms’ ₹30,213 crore issue had drawn about ₹3.73 lakh crore of total bids by late evening on Day 2, with the retail portion oversubscribed and market commentators citing diverted cash from other listed stocks during the book build.
SEBI / market infrastructure
On 22 October 2026, the Securities and Exchange Board of India proposed letting stock exchanges and depositories fund core-market and regulator-mandated initiatives without prior approval for each ticket, while keeping board oversight and financial safeguards and inviting comments until 12 November.
E-commerce / food delivery
On 22 October 2026, reporting said Flipkart is testing an internal food delivery product called Eat-in by Minutes with more than 8,000 employees in Bengaluru, using Ekart logistics as it prepares to compete with Zomato and Swiggy in meal delivery.
Digital trust / compliance
On 22 October 2026, eMudhra Ltd said its board will voluntarily withdraw from the global SSL/TLS certificate segment after a key-security incident on eight intermediate certificates, citing compliance cost and weak economics while stressing that other digital-trust services continue.
For informational purposes only. Not investment advice. Verify with filings and a licensed adviser.