Shriram Finance intends to increase the share of gold loans in its total credit portfolio to five percent over the next three years. Furthermore, the company plans to expand lending to micro, small, and medium enterprises (MSMEs) as part of the expansion of the secured retail financing sector.
According to a senior official, the non-banking lender aims to increase the MSME share in the overall credit portfolio to twenty percent in the medium term. Executive Vice President Umesh Revankar told PTI that currently, about 2.5 percent of the credit portfolio is attributed to the gold loan segment, and the company's goal is to bring this figure up to 5 percent within three years.
As of June 2026, the total outstanding gold loans amounted to 7,514 crore rupees, which represented 2.39 percent of the total portfolio volume of 3.13 lakh crore rupees. The share of gold loans has shown steady growth recently; in the first quarter of fiscal year 27, the portfolio grew by 46 percent year-on-year and 13 percent quarter-on-quarter.
In March 2026, the gold loan share was 2.19 percent of the portfolio, higher than the 1.89 percent recorded in June 2025.
The growing interest in this segment is driven by rising gold prices and high levels of gold ownership in Indian households, prompting many lenders to revise their strategies and increase risk exposure. Recently, two non-banking lenders—Tata Capital and Godrej Capital—acquired assets or portfolios to enter the gold loan market.
When asked about Shriram's strategy and potential acquisitions, Revankar stated that they would prefer organic growth through an extensive network of over 3,200 branches, which already serves 1.03 crore customers. He noted that market opportunities are vast, and Shriram, traditionally strong in the automotive, agricultural machinery, and commercial vehicle segments, wants to leverage its network across India for business development.
Regarding MSMEs, where many banks operate actively, Shriram has observed relatively slow growth but expects to increase its share as it sees corresponding opportunities. According to the company's financial statements, Shriram's MSME loans, which received over 39,000 crore rupees in capital infusion from Japanese giant MUFG earlier this year, grew by 8 percent year-on-year to 41,962 crore rupees as of June. The MSME segment is the third largest in terms of assets under management.
When asked whether the focus on MSMEs is motivated by the ability to earn higher margins or better deploy capital, Revankar indicated that the driving force is the opportunity the company sees in this segment. Meanwhile, the construction equipment segment, the company's fourth largest portfolio, showed a decline in assets under management by 25.17 percent to 12,373 crore rupees in the quarter ending in June.
Oficina Brasil Conecta 2026, considered the largest national event focused on the automotive repair market, presented several novelties aimed at simplifying mechanics' work and assisting consumers. The 2026 edition included lectures, workshops, the launch of new tools, and other important resources for the sector, also benefiting drivers.
The event took place at the Transamérica Expo Center, located in the city of São Paulo (SP), spanning from July 24th to 26th. The 2026 edition adopted a gamified dynamic, offering prizes and advantages to participants who met certain goals.
Visitors could observe the transformation in the environment of mechanical workshops, which have begun using technology to perform diagnoses and solve problems more quickly. This modernization is essential to keep up with vehicle advancements; in the last five years, vehicles up to R$ 150 thousand have incorporated direct injection, turbo, ADAS features, and more sophisticated electronic management, in addition to the presence of hybrid and electric models.
Oficina Brasil Conecta provided practical classes on these technologies and challenged participants. Additionally, the 2026 edition was pioneering in including content on heavy-duty vehicles, which have complex emission control systems to meet Proconve P8 requirements.
One of the highlights of Oficina Brasil Conecta 2026 was the launch of the iCar application. This platform aims to facilitate the life of the driver when needing mechanical service. Michel Dell Vechia, creator of iCar, reported that the idea came about after he experienced problems with his vehicle in an unknown location during a trip.
iCar operates as a platform where users can locate nearby workshops, schedule maintenance, or request emergency assistance via an SOS button. For professional mechanics, the application offers benefits such as increased visibility and customer retention. The creator emphasized that the platform does not charge fees to workshops for participation, as registration is free, and payments occur directly between customers and service providers, supported by a private initiative with partner brands.
Another relevant launch was the E-Coolant additive, developed by Tirreno for the cooling system of electric car batteries. This product is the first of its kind developed in Brazil and the fourth globally. The cooling systems for electric and hybrid vehicle batteries are analogous to those of a traditional engine, but the difference with Tirreno's additive is its inability to conduct electricity, which eliminates the risk of fire in case of accidents.
South Africa has officially allocated the entire upper 6 GHz frequency band for use in mobile networks for the first time. This provides operators with a potential 700 MHz of valuable mid-band spectrum and somewhat resolves the global dispute between cellular industry representatives and Wi-Fi proponents regarding the most sought-after unused frequencies in telecommunications.
This decision is enshrined in the National Radio Frequency Plan (NRFP) for 2026. The document was approved by Communications Minister Solly Malatsi on July 2 and published by the communications regulator Icasa on Thursday. The plan replaces the 2021 edition and represents the main map of radio frequency spectrum usage in South Africa in the range from 8.3 kHz to 3 THz, updated every four years according to the results of the World Radiocommunication Conference (WRC) of the International Telecommunication Union.
A significant change is contained in the plan's distribution table and its national footnotes: the upper 6 GHz band, covering the range from 6.425 GHz to 7.125 GHz, is now designated for IMT—a term ISO uses to denote broadband mobile communication technologies such as 5G and future 6G. This band appears for the first time in the official list of IMT bands for South Africa, alongside working bands such as 1.8 GHz, 2.1 GHz, and 3.5 GHz, and is marked for TDD (time-division duplex) mode use for mobile devices according to WRC-23 Resolution 220.
Icasa stated that it intends to conduct a feasibility study and develop a radio frequency spectrum allocation plan—the regulatory stage before licensing and possibly auctioning this band, as well as creating a channel plan for the entire range from 6.425 GHz to 7.125 GHz.
This allocation is a clear victory for South African mobile operators, who, together with the industry body GSMA globally, actively advocated for reserving the upper 6 GHz band for licensed mobile use. They argued that this band is critical for the growth of 5G capacity and future 6G networks. It was also a defeat for the Wi-Fi industry and wireless internet service providers, who had pushed for opening this band for unlicensed use as an extension of already available spectrum for Wi-Fi.
Compensation for Wi-Fi is the lower 6 GHz band. The plan confirms that the range from 5.925 GHz to 6.425 GHz remains available for unlicensed Wi-Fi following Icasa's 2023 decision to open this band. This decision allowed the implementation of Wi-Fi 6E and Wi-Fi 7 in South Africa. It is also noted that regulation of dynamic spectrum access in this band is under development, and a distribution plan for the lower band is planned.
According to a recent TechCentral report, actual Wi-Fi usage in the 6 GHz band in South Africa remains minimal, accounting for only 0.2% of Wi-Fi connections in the first quarter of 2026.
Through this division, South Africa has taken a position in the unresolved global dispute: the US has allocated the entire 6 GHz band for Wi-Fi, China has reserved it entirely for cellular communication, and the European Radio Spectrum Policy Group recommended last year giving the majority of the upper band to mobile operators, leaving a smaller portion for Wi-Fi pending WRC-27. South Africa's approach—lower band for Wi-Fi, upper for mobile—is closest to the European compromise.
Nevertheless, the upper 6 GHz band is not free. It is actively used for licensed microwave point-to-point links, including operator backbone lines, and partially for satellite uplink channels. Existing users must either adapt to the future mobile designation or migrate, which will be the subject of study within the promised feasibility study.
Despite the victory of mobile operators in the fight for the upper 6 GHz band, they have made no progress on the opposite end of the spectrum. The plan preserves the 470–694 MHz band, which includes 600 MHz frequencies targeted by some countries for mobile communication, and continues to allocate it for digital terrestrial television broadcasting. Furthermore, this band allows for secondary use, including TV white spaces and wireless microphones. Since this band is absent from the plan's IMT list, South African broadcasters retain their home spectrum below 700 MHz for at least the entire four-year duration of this plan.
The South African Reserve Bank decided to keep interest rates unchanged, which provided confidence to consumers, homeowners, and the commercial real estate sector. However, economists warn that oil price volatility remains the most significant risk to inflation and future rate decisions.
The MPC's decision to keep the base rate unchanged at 7% provided positive certainty for various segments of the population and the commercial sector. It was noted that inflation accelerated to 5% in June, largely due to rising fuel prices stemming from the renewed conflict in the Middle East.
During the MPC meeting, four members voted to maintain rates, while two advocated for a 25 basis point increase, highlighting the complexity of the task for decision-makers. Arthur Kemp, chief economist at Sanlam Investments, noted that the Bank's updated inflation forecasts reflect a more favorable outlook for oil prices.
According to Kemp, the Bank's CPI forecast was adjusted downwards: the average for 2026 was lowered from 4.4% to 4.0%, and the peak inflation is now expected at 4.7% in the first quarter of 2027, compared to the previous forecast of 4.9%. He also indicated that the Bank's forecasting model continues to show a rate reduction in the medium term, reaching 6.79% in the fourth quarter of 2026 and 6.24% in the fourth quarter of 2027.
Nevertheless, Kemp warned about persistent concerns regarding inflation expectations, which could lead to secondary effects. He emphasized that if inflation expectations remain high or continue to rise, the Central Bank may need to raise rates again in the future.
The real estate sector welcomed the decision, as stable borrowing costs support investment plans after months of uncertainty regarding further rate hikes. Norman Raad, CEO of Broll Auctions and Sales, stated that holding rates improves confidence in the commercial real estate market, as buyers can rely on previous calculations.
Steven Whitcomb, Managing Director of FIRZT Property Group, believes that the Central Bank correctly identified that current inflationary pressure is mainly imported through rising fuel prices, rather than excessive consumer demand. He noted that the main factors are the sharp increase in fuel prices following the Middle East conflict and the rise in administrative tariffs, such as municipal electricity and water bills.
Whitcomb added that freezing rates helps support the rand exchange rate because crude oil imports are pegged to the US dollar. More attractive rates in South Africa stimulate foreign investment, which supports the currency and limits the impact of imported inflation.
Whitcomb believes that falling oil prices could eventually create conditions for easing interest rates. He mentioned that many international energy analysts expect oil prices to stabilize as supply conditions improve and geopolitical tensions decrease.
The UASA union also supported the decision, stating that households urgently need stability after a long period of rising cost of living. Abigail Moyo, a UASA representative, expressed hope that easing inflationary pressure will allow the Central Bank to lower borrowing costs later this year, thereby alleviating the financial burden on citizens.
