gold loan Non-Banking Financial Companies have seen a jump of up to 12% credit demand from the agriculture sector in the current Kharif season. Industry officials said paddy, fish farming and shrimp farming have led to the rise in credit demand.

“The demand for credit from farming in general is high. Fisheries and shrimp farming have shown higher demand during the current kharif season,” said George Alexander Muthoot, Managing Director, Muthoot Finance,

Umesh Mohanan, CEO, Indel Money, said that the economic recovery and the possibility of a above-normal monsoon have increased the chances of a good Kharif season. “We have seen good demand for gold loans from agriculture sectors to meet short-term capital requirements,” he said.

Thomas George Muthoot, Director, Muthoot Fincorp said gold loan offtake from the farming community has been higher by 10-12% on a year-on-year basis.

Aquaconnect CEO Rajamanohar Somasundaram said formal credit offtake for aquaculture is increasing.