Loan-against-gold market booms in India

After a good business of loan-against-gold by financial institutions in Kerala,they now plan to expand their business to other parts of the country.The gold loan-business in the country has flourished over the past few years,as lending against gold is proving to be a safer and easier way for people to get cash instantly and has a rare chance of a consumer defaulting on a loan.Having its roots in southern India, 85 to 90 percent of the gold loan-market exists in states like Andhra Pradesh, Tamil Nadu and Kerala. However, the business is gradually paving its way in other parts of the country.