Loans and advances by non-banking financial companies (NBFCs) grew 18.5% in FY24, primarily driven by upper-layer NBFCs, according to the Reserve Bank of India's report on trend and progress, released on Thursday. NBFCs' credit growth stood at 17.4% in FY23.
The credit growth of middle-layer NBFCs was relatively muted on account of a contraction in unsecured loans.
As on March 2024, more than two-thirds of the aggregate credit exposures and total borrowings of NBFCs were long-term—more than 12 months. Credit to industry and retail sector accounted for almost 71.2%, the highest percentage in the entire loan portfolio. It was followed by the agriculture and allied sector and micro, small, and medium enterprises (MSMEs).
Bu hikaye Financial Express Delhi dergisinin December 27, 2024 sayısından alınmıştır.
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Bu hikaye Financial Express Delhi dergisinin December 27, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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