Page 21 - Zaveri Bazaar News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Business closures and job losses have pushed more than 230 million Indians into poverty in the past year, says study.. Read more at straitstimes.com.

Desperate Indians sell family gold to survive Covid cash crunch

Banks disbursed “loans against gold jewellery” worth $64 billion in the first eight months of 2021, central bank data shows.

In Mumbai's jewellery bazaar, Kavita Jogani gingerly places her wedding bangles on the shopkeeper's scales, one of the thousands of Indians parting with their most cherished asset -- gold. It was not an easy decision -- Jogani was desperate after her garment business took a severe hit in the past year and a half with multiple coronavirus lockdowns, making it...

Desperate for cash, many families and small businesses have been putting up gold jewellery - their last resort - as collateral to secure short-term loans to tide them over.