Elevated gold prices, supported by safe-haven demand linked to the Iran war, have increased the value of jewellery pledged as collateral, boosting growth prospects for India's gold loan industry.
Aditya Birla Capital's non-banking financial business plans to open 200 to 300 gold loan branches by March 2027 across high-potential markets, it said in a statement.
The business will serve urban and semi-urban customers through a combination of physical branches and digital platforms, including existing Aditya Birla Capital group customers, the company said.
Aditya Birla Capital's non-banking financial business provides secured and unsecured loans to retail, small-business and corporate customers.
The business will now compete with established gold loan lenders including Manappuram Finance (MNFL.NS) and Muthoot Finance (MUTT.NS) as it enters the market.
