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Why Lenders Have Stepped Up Auctions Of Gold Jewellery
A confluence of factors has led to the higher sales of gold collateral by banks in recent weeks.
05 May 2021, 08:40 AM IST
Newspaper advertisements from lenders with a long list of jewellery up for auction have become more commonplace in recent weeks. Lenders are auctioning pieces of jewellery against which money has been advanced but borrowers have defaulted on their repayments.“Gold auctions have reached their highest level in the last four to five years across all types of lenders, including banks and non-banks,” said CVR Rajendran, managing director ...
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