growth stood in-line with guidance, auctions surge (Rs4040Mn vs Rs80mn: 9MFY21) and tonnage decline (-4.3%QoQ) stood stark for Q4FY21. Short tenure loan policy (3-month) implied upfront loss recognition on account of gold price correction that reflected in tonnage shrinkage. However, gold loan borrowers comprising of small business entrepreneurs have been facing the brunt of the second wave. MFI NPAs stood steady QoQ at 2.5%, however, AprMay'21 weak collections (7-8% dip from 101%: Mar'21) led by second wave...