Non-banking financial companies (NBFCs) report credit growth of 14.9% by the end of July, with retail lending playing a major role. Retail loans expand 21.4% year-on-year, including strong growth in housing-linked lending and other categories cited by outlets. Gold loans are also a prominent contributor to the increase, alongside consumer-focused borrowing.
One outlet highlights that gold loans rise sharply (68.5%) and consumer durable loans grow quickly (51.5%), pointing to demand for secured and consumer-finance products. Another source reports that growth is broad-based across sectors, noting credit to agriculture and allied activities expands 18% year-on-year in July, higher than the 5.4% growth recorded a year earlier. Both accounts describe acceleration compared with the previous year’s pace.
While the coverage differs in emphasis—one focusing on product drivers such as gold and consumer durables, the other highlighting sectoral performance including agriculture—both describe the same overall trend: NBFC credit growth in July quickens to 14.9% and is supported by faster retail and specific lending segments.
