The Reserve Bank of India (RBI) has released data on credit given by non-banking financial companies (NBFCs) during July 2026. The data was collected from major NBFCs and housing finance companies (HFCs).
NBFC credit grew by 14.9% year-on-year (y-o-y) in July 2026, compared with 10.6% growth in July 2025.
Agriculture Credit Sees Strong Growth
Credit given to the agriculture and allied activities sector increased by 18.0% in July 2026 compared with the same month last year. This was much higher than the 5.4% growth recorded a year earlier.
Industry Credit Growth Slows
Credit to the industrial sector grew by 7.4% in July 2026, compared with 9.3% in July 2025. The slowdown was mainly due to weaker credit growth in the infrastructure sector, which is a major part of industrial lending.
Services Sector Credit Growth Moderates
Credit growth in the services sector slowed to 15.2% in July 2026 from 24.5% a year earlier. Credit to commercial real estate recorded strong growth. However, lending to the trade and transport operators segments grew at a slower pace.
Retail Loans Grow Faster
Retail lending by NBFCs recorded strong growth of 21.4% in July 2026, compared with 13.7% in July 2025. Within retail loans, housing loans and loans against gold jewellery saw faster growth. Vehicle loans also continued to grow at a steady pace.
The data is as follows:
