NBFCs Maintain Double-Digit Credit Growth Last Fiscal
Financial Express Pune|December 27, 2024
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.
ANUPREKSHA JAIN

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).

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