Indians are turning in their gold for cash and loans—but this may not be a sign of household distress
Large jewellery retailers are only the latest, after banks and non-bank finance companies (NBFCs), to get into the game. In a reversal of past practice, when major jeweller chains like Tanishq and Kalyan would only let customers exchange old gold for new jewellery, they have lately been offering customers cash for their old gold, a service traditionally associated with small ‘family jewellers.’
