![Rising Frauds of Gold Loans](http://siliconindia.com:81/news/newsimages/special/x56Gp1u2.jpeg)
Industry claims the amount of gold in Indian households at 20,000 tonnes and less than 1 percent of that number has been monetized by organized sector. Several gold loan companies possess growth of 80 percent in their loan books, with a rising requirement approaching from places beyond South India, where gold loans have been well-liked.
Manappuram Finance's profits more than doubled for the half year ended September; 2011.in spite of rising reputation, guaranteeing absolute safety of the precious metal continues to be tricky. Muthoot said, "Our audit staff verifies gold in every branch. But complete assurance is impossible."