DBS Bank India plans to double its gold loan book, currently at Rs 6,300 crores, within the next five years. The bank has launched new features for its credit offerings, targeting a wider audience that is younger, more urban, and digitally savvy.DBS Bank India has seen growth in its gold loans business due to its expanded branch network and increased demand from the agrarian community, particularly in South India. The bank has also introduced a balance transfer feature to attract borrowers from other financial institutions.
RBI data showed that at the end of FY21, total value of gold loans outstanding was nearly Rs 60,500 crore - up 82% on the year. In FY22, this growth rate could slow down substantially, industry players said.