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Fintech startups have only been able to corner a small part of the value in gold-linked financial products like gold loans and digital gold even as gold prices have shot up. Regulatory changes may pose a further challenge.

With competition in the segment intensifying, the chief business development officer of India’s largest exchange unpacks the bourse’s strategy going forward.
The fintech’s financial services business has done reasonably well in Q4 FY26. But upping its lending game without the NBFC tag will be a tall task.
The RBI’s unusually harsh order raises deeper questions about management credibility—and whether investors should take assurances at face value.