Gold loans remained a growing part of bank lending, even as the speed of expansion moderated. The report links the slowdown to banks adjusting to regulatory changes. It describes slower growth rather than a fall in the overall amount of lending against gold.

The revised framework involves changes to loan-to-value ratios and repayment periods for gold-backed borrowing. These are important features of a loan: the first concerns how much can be borrowed against the pledged gold, while the second concerns the time allowed for repayment. The report does not specify the revised limits, permitted tenures or implementation dates.

Meanwhile, personal lending recorded stronger growth, with housing finance and vehicle borrowing providing support. Outstanding balances in both of these categories registered notable increases compared with a year earlier. However, the report provides no figures for their growth rates or total outstanding amounts.

The picture is therefore one of continued credit expansion, with gold lending losing some momentum during the regulatory adjustment. Without numerical details, it is not possible to measure the extent of that moderation or compare it precisely with the growth in housing and vehicle finance.