PayNearby, India’s leading branchless banking and digital financial services network, announced on May 7, 2026 that it facilitated ₹550 crore in gold loan disbursements through small retail stores in FY26 — primarily across semi-urban and rural India. Notably, ₹100 crore was disbursed in March 2026 alone, and the company is currently running at a monthly gold loan disbursement rate exceeding ₹100 crore.
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How PayNearby’s Gold Loan Model Works?
| Feature | Detail |
|---|---|
| Network | 15 lakh+ retail partners across 20,000+ PIN codes |
| Disbursement Speed | As fast as 2 hours |
| FY26 Total Disbursements | ₹550 crore |
| March 2026 Alone | ₹100 crore |
| Monthly Run Rate | ₹100+ crore |
| Model | Assisted discovery + application at retail; verification & disbursement at partner branches |
| Partners | Banks and NBFCs via plug-and-play integration |
Gold Loans Work for Bharat
Gold loans are one of the oldest and most trusted forms of secured credit in India — and for good reason. Gold is a universally held household asset, the paperwork is minimal, funds arrive quickly, and interest rates are more reasonable than unsecured alternatives. For small business owners, micro-entrepreneurs, and households facing short-term cash needs or emergencies, it’s often the fastest path to formal credit.
PayNearby’s model extends this further by removing the biggest barrier — proximity. Instead of requiring borrowers to travel to a bank branch, customers can initiate the process at their nearest retail store, get guidance in their own language, and receive disbursement within hours.
Empowering Women Through Asset-Backed Credit
One of the most meaningful outcomes of this model is the increased participation of women. Since gold is a commonly held household asset often managed by women, the model is actively enabling them to access formal credit, support income generation, and strengthen their role in household financial decision-making — a development that goes well beyond loan numbers.
The Bigger Picture: Plug-and-Play Credit at the Last Mile
PayNearby operates on a B2B2C model — partnering with banks and NBFCs who want to reach customers at scale without building expensive physical infrastructure. For lenders, it’s a ready-made distribution network. For customers, it’s formal credit without the friction of visiting a branch. For retail partners, it’s another income-generating service they can offer their community.
Rajat Agarwal, Chief Business Officer – Enterprise and Financial Assets, PayNearby, highlighted the company’s intent to scale further with more bank and NBFC partners, using the same plug-and-play approach that combines reach, trust, and technology.
PayNearby at a Glance
Founded in April 2016 and DPIIT-certified, PayNearby currently enables over 5 crore customers across India, facilitating 25 crore yearly transactions through services including cash deposits, withdrawals, credit, insurance, travel bookings, and utility payments.
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FAQs
Q: How much did PayNearby disburse in gold loans during FY26?
A: PayNearby facilitated ₹550 crore in gold loan disbursements through its retail network in FY26, with March 2026 alone accounting for ₹100 crore — and monthly run rates now exceeding ₹100 crore.
Q: How does PayNearby’s gold loan model work for customers in rural India?
A: Customers initiate gold loan applications at nearby retail stores in PayNearby’s network, with final verification and disbursement handled at partner bank or NBFC branches — with funds accessible in as little as two hours.
