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MUDRA loans were launched to boost grassroots-level entrepreneurship and self-employment in the country
Apart from the gold loans, SBI's Xpress Credit, another retail loan segment, showed a 36.5% growth
Although mired in controversies of late, these digital platforms have witnessed a steady flow of customers due to the seamless experience they offer
This unlocking of extra value for gold pledged has further prompted a rush for gold loans, said jewellers
Launch timed with pandemic to help the common man, say officials of the company
The portfolio outstanding of the sector stood at Rs 22.26 lakh crore as of December 2020, as compared to Rs 20.31 lakh crore as of December 2019, according to a CRIF High Mark report
Interest rates charged and the other charges like loan processing and interest in delayed payments are quite high
Retail borrowers are likely to queue up to rejig loans as many see their repaying capacity shrink in the second wave of the pandemic
Experts say that the increasing inflation due to disruption of supply chains during the lockdown also has an impact on the interest rates.
If an investor has a surplus amount and wishes to explore other investment options, such investment must provide a return of least 10-12% in order to be profitable