NBFC Credit Grows 14.9% In July Led By Gold And Housing Loans

Credit growth from non-banking financial companies (NBFCs) rose 14.9% year-on-year in July 2026, according to RBI data. Retail loans surged 21%, driven primarily by gold and housing finance segments. Credit to agriculture and allied activities grew 18% YoY, significantly higher than 5.4% a year ago. The strong retail and rural credit expansion signals robust demand outside traditional banking channels.