Out from India’s alleys, gold loans gain respect (The Malaysian Insider)

Posted on September 29, 2009
Filed Under Private Mortgage Insurance |

KOCHI, India, Sept 29 — Indians own more gold than the citizens of any other country. They use the glittering metal as ornaments to flaunt family wealth, as a source of retirement savings and as insurance against calamities. But lately, gold has become something else: collateral, and the basis of one of the country’s fastest-growing businesses, gold loans. While pawning the family jewels would …

Source:Out from India’s alleys, gold loans gain respect (The Malaysian Insider)

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