NBFC loans grow 15% on year in July to INR 59.89 tln, gold loans up 68.5%
This story was originally published at 19:43 IST on 7 September 2026
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MUMBAI – Loans disbursed by non-banking financial companies rose nearly 15% on year to INR 59.89 trillion in July, according to data released by the Reserve Bank of India Monday. Loans to agriculture and allied activities rose nearly 18% on year to INR 802.71 billion.
Credit to industry rose 7.4% on year to INR 22.13 trillion in July. The year-on-year growth in credit to industry moderated from 9.3% a year ago, primarily driven by subdued growth in infrastructure, which is a major constituent of the segment, the RBI said.
Credit growth to the services sector moderated to 15.2% year-on-year in July to INR 7.69 trillion from 24.5% a year ago. Retail loans rose 21.4% on year to INR 26.06 trillion. Within retail loans, housing loans rose nearly 12% on year to INR 8.55 trillion, while vehicle loans rose over 15% on year to INR 6.29 trillion. Loans against gold jewellery rose 68.5% on year in July to INR 3.54 trillion. End
Reported by J. Navya Sruthi
Edited by Deepshikha Bhardwaj
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