Gold Loan Growth Drives Expansion in India's Retail Credit Market in FY26

India's retail credit market is experiencing significant growth driven by a 90.3% year-on-year surge in gold loan originations, fueled by a sharp rise in gold prices. Smaller private and PSU banks with substantial gold loan portfolios are benefiting from improved margins, asset quality, and conservative underwriting despite declining gold tonnage. Alongside gold loans, vehicle and consumer durable financing also saw notable increases, reflecting evolving borrowing habits and a robust consumer spending environment in fiscal year 2026.