Indian household investment in gold and real estate has the potential to be converted into financial assets, according to a study by consulting firm McKinsey.
The study estimates that by FY16, Rs 3.80 lakh crore will be invested in gold and real estate. Gold-based assets alone could create assets under management of around Rs 2,25,000 crore, according to the study supported by IBA for the Banker’s Conference in Chennai, organised by the Indian Overseas Bank.
However, banks and NBFCs feel that it could be a long way for it to take off as there are certain regulatory issues that need to be sorted out for banks. Besides, these products need to be simple in terms of design and delivery so that a larger section of the population can be tapped. – Source: http://economictimes.indiatimes.com
on November 8, 2011. Filed under Precious metals.
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