Credit outstanding of non-banking financial companies (NBFCs), including housing finance companies (HFCs), grew 14.9% year-on-year to Rs 59.89 lakh crore in July, according to data released by the Reserve Bank of India (RBI). Overall NBFC credit had increased 10.6% on year in July 2025.
Outstanding credit rose from Rs 57.76 lakh crore in March this year.
Retail loans continued to be a key driver, with outstanding credit to the segment rising 21.4% on year to Rs 26.06 lakh crore in July, compared with Rs 21.46 lakh crore a year earlier. Within retail, loans against gold jewellery recorded the sharpest growth, surging 68.5% on year to Rs 3.54 lakh crore. Consumer durable loans rose 51.5% to Rs 74,644 crore, while vehicle loans increased 15.1% to Rs 6.29 lakh crore.
Housing loans grew at a relatively slower pace of 11.9% to Rs 8.55 lakh crore.
Credit to the services sector rose 15.2% YoY to Rs 7.69 lakh crore, with commercial real estate credit growing 22.3% to Rs 1.03 lakh crore. Trade credit rose 14.7% to Rs 1.16 lakh crore, while loans to transport operators increased 10.7% to Rs 1.79 lakh crore. Agriculture and allied activities saw a credit growth of 18% to Rs 80,271 crore.
Credit to industry, however, grew at a slower pace of 7.4% to Rs 22.13 lakh crore. Infrastructure credit rose 6.2% to Rs 20.16 lakh crore, while loans to the power sector grew 6.9% to Rs 14.36 lakh crore.