Gold loans jump 94% y-o-y, fuel bank credit growth in Q1

Gold loans rose 93.8% year-on-year to Rs 5.4 lakh crore at end-June 2026, accounting for 13.1% of incremental non-food credit.

Overall bank credit grew 18.6% year-on-year to cross Rs 219.3 lakh crore in Q1FY27.

Credit to industry rose 19.2%, the highest first-quarter growth in recent years, to Rs 47.7 lakh crore, led by large industries and medium enterprises.

Vehicle loans grew 17.3% to Rs 7.5 lakh crore, nearly double the 9.2% growth a year earlier.

Loans against gold jewellery were the fastest-growing personal loan segment, up 93.1% to Rs 3.6 lakh crore.