Unlike traditional gold ornaments, these do not last a lifetime, but customers do not mind because they cost only a fraction of the amount used to buy other jewellery.
Traditional practices like keeping shops open till midnight on Dhanteras has seemed to have little impact for jewellers as disposable incomes remained tight, despite some pre-ordering bolstering sales.
Santosh Singh of Espirito Santo Securities in an interview to CNBC-TV18 spoke about the impact of these new norms on gold loan companies. He says, in the near-term gold loan companies will be impacted.