SBI to scale up gold loan business, start premium banking services

SBI agriculture cold loan portfolio increased to Rs 73,601 crore in FY22 from Rs 66,878 crore in FY2021 and personal segment, the gold loans book expanded by 9.89 per cent YoY to Rs 23,063 crore

State Bank of India (SBI) will increase its focus on gold loans for personal use and agricultural after lending more than Rs one trillion in that segment till June 2022.

The country's largest lender marked its foundation day on Friday by announcing premium services for affluent clients, a new version of its YONO personal loan, and WhatsApp banking. It opened new 31 central processing centres (CPCs) for urban and semi-urban centres for products like educational loans.

SBI chairman Dinesh Khara said during inflationary conditions, gold is seen as a preferred investment class. If it becomes a preferred asset class, there