Fintech startups have only been able to corner a small part of the value in gold-linked financial products like gold loans and digital gold even as gold prices have shot up. Regulatory changes may pose a further challenge.
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After the derivatives hedging fiasco triggered the resignations of top executives, indications are that the regulator expects the private lender’s board to do a thorough cleanup.
Indians are buying lots of gold, just not jewellery. This is hurting margins of retailers, who are in turn resorting to all sorts of tricks to grow.
With Fullerton acquiring a controlling stake last year, the fintech startup has seen an overhaul of the current leadership, trimmed loan disbursements and a halt in product rollouts.