Indian fintech’s gold rush is yet to take off
India’s fintech sector has finally been bitten by the gold bug. Fintechs are exploring gold-linked products like digital gold savings, gold loans (credit), and gold exchange-traded funds (ETFs). However, there are two problems for fintechs looking to sell gold products: regulatory hurdles and the small revenue pool. The total revenue pool for Indian fintechs from all major gold-linked products is estimated at about Rs 1,500-2,000 crore annually. The Finance Ministry is preparing a regulatory framework for digital gold, and the RBI is considering rules for gold leasing, following a crackdown on peer-to-peer lending.
