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    "headline": "Gold Loans Drive 13% of India's Incremental Bank Credit in FY27",
    "dek": "Gold loans against jewelry accounted for 13.6% of new non-food bank credit in India during April-July 2026.",
    "prose": "Gold loans against jewelry accounted for 13.6% of all new non-food credit in the Indian banking system during the fortnight ended July 31, 2026. [^1]\n\nGold loans drew an incremental credit of Rs 90,888 crore during the first four months of fiscal year 2026 (April-July). [^2]\n\nThe Reserve Bank of India (RBI) released preliminary data on Tuesday stating that India's current account deficit widened to $4.2 billion, or 0.5% of GDP, in the first quarter of 2026-27. [^3]\n\nIndia recorded foreign exchange inflows totaling $136.38 billion. [^4]\n\nNon-food bank credit expanded by a brisk 19.1% on a year-on-year basis for the fortnight ended July 31, 2026. [^5]\n\nThe widening deficit was primarily driven by a higher merchandise trade gap, which increased to $86.1 billion in Q1 FY27 from $68.9 billion in the corresponding quarter of 2025-26. [^6]\n\nThe increase in reserves gives the central bank more room to intervene in support of the rupee. [^7]\n\nThe inflows received by banks are swapped with the Reserve Bank of India (RBI). [^8]\n\nForeign portfolio investment (FPI) recorded a net outflow of $9.6 billion during the quarter, reversing a net inflow of $1.6 billion in the corresponding period last year. [^9]",
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      "statement": "Gold loans against jewelry accounted for 13.6% of all new non-food credit in the Indian banking system during the fortnight ended July 31, 2026.",
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