NBFCs expand gold and consumer durables lending
Key Highlights
The Reserve Bank of India reports that NBFC credit rose to ₹61.69 lakh crore in September 2026, with sharp growth in gold and consumer durable loans.
Non-banking finance companies increased their total credit by 15.4 per cent to reach ₹61.69 lakh crore in September 2026. Data from the Reserve Bank of India indicates that lending toward gold jewellery and consumer durables grew by more than 50 per cent during this period.
The total outstanding credit for NBFCs rose from ₹53.46 lakh crore in September 2025. Specifically, lending for gold jewellery reached ₹3.74 lakh crore, while credit for consumer durables climbed to ₹77,896 crore. The retail sector saw credit growth accelerate to 21.9 per cent, driven by housing, vehicle, and gold jewellery loans.
Agricultural credit grew by 17.8 per cent, surpassing the 5.2 per cent growth observed a year earlier. Conversely, industrial credit growth slowed to 7.4 per cent from 10.2 per cent, with infrastructure lending remaining subdued. Services sector credit growth also moderated to 17.3 per cent from 23 per cent in the previous year. Meanwhile, commercial real estate, trade, and transport operator segments experienced higher credit expansion.
Based on company and agency reports. For information only; not investment advice.