India’s bank credit growth closed the Financial year 2026 on a strong note, led by robust lending to NBFCs, MSMEs and retail borrowers, even as gold loans surged amid elevated prices, according to a report by CareEdge Ratings.
The ratings agency said the expansion will be supported by strong consumption demand. “Recent policy measures, such as rationalisation and reduction of GST rates, together with benign inflation, will help sustain retail credit demand across asset classes,” it noted.
The retail mortgage-backed loans offered by non-banking financial companies (NBFCs) and housing finance companies (HFCs) are set to expand to Rs 20 trillion by FY2028, rating agency ICRA projects.
He warned that weak governance could amplify vulnerabilities during market stress or liquidity shocks.
The Reserve Bank of India (RBI) has directed large non-banking financial companies (NBFCs) to disclose the total charges levied on customers for each loan product.
The Reserve Bank has lifted its ban on the 'sanction and disbursal of loans' by Asirvad Micro Finance and DMI Finance Pvt Ltd, in a big relief to the two microfinance companies, according to an RBI circular issued on Wednesday.
The revised regulations shall be applicable with effect from January 1, 2025 and will further harmonise regulations applicable to HFCs and NBFCs, the RBI said.
The Reserve Bank of India (RBI) on Monday issued a circular to all banks and NBFCs, introducing new regulatory principles for management of model risks in credit, with a view to ensuring prudence and robustness in the process.
PhonePe said it has over 535 million registered users and aims to create a powerful and seamless user experience in the secured loans category.
It said that it found in a review that some arrangements between card networks and issuers are “not conducive to the availability of choice for customers”.
