Economic Times
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Traders, shopkeepers and small businessmen will be the biggest takers of gold loans to restart their operations after the lockdown, according to leading gold non-banking finance companies (NBFCs) such as Manappuram Finance and Muthoot Finance.
Gold loans for business purposes are mostly used by small businesses as short-term working capital for stocking.
With gold prices hovering around Rs 47,000 per 10 gm, small businesses will need to take loans to resume operations, said industry executives.