After expanding at a fast clip, the gold loan segment, considered a relatively-safe bet because of its collateral-backed nature, is seeing early signs of stress, with several non-banking financial companies (NBFCs) flagging repayment delays even as they step up exposures. Shriram Finance has joined its NBFC peers in reporting pressure in the segment. Its gross Stage 3 assets — loans overdue by more than 90 days — rose to 3.12% of its gold loan portfolio in the second quarter of this fiscal, from 2.57% in the previous quarter and 2.28% a year earlier. Gross Stage 2 assets, comprising loans overdue by 31-89 days, rose to 9.88% from 9.71% in the year-ago quarter.