The Reserve Bank of India has released the credit portfolio of NBFCs. Hundreds of NBFCs have closed in India recently and as per reports, NBFCs are facing financial crisis.
As per latest RBI report, on a year-on-year (y-o-y) basis, NBFCs’ credit registered a growth of 14.2 per cent in May 2026 as compared to 11.4 per cent a year ago. The total credit has increased to Rs 58.60 lakh crore. Total NBFC credit increased from Rs 57.75 lakh crore in March 2026 to Rs 58.60 lakh crore in May 2026. This means NBFC credit increased by around Rs 84,544 crore between March and May 2026.
NBFC Credit Sector-Wise Data: March 2026 vs May 2026
| Sector | March 2026 (Rs Crore) | May 2026 (Rs Crore) |
|---|---|---|
| NBFC Credit | 57,75,989.37 | 58,60,532.95 |
| Agriculture and Allied Activities | 77,558.98 | 80,325.26 |
| Industry | 22,06,802.91 | 21,89,379.01 |
| Infrastructure | 20,15,735.15 | 19,97,643.10 |
| Power | 14,21,177.55 | 14,11,624.16 |
| Services | 7,49,499.96 | 7,59,616.43 |
| Transport Operators | 1,75,244.14 | 1,75,154.42 |
| Trade | 1,13,670.83 | 1,13,759.87 |
| Commercial Real Estate | 1,07,768.82 | 1,19,602.44 |
| Retail Loans | 24,38,380.10 | 25,19,541.54 |
| Housing Loans | 8,21,225.44 | 8,34,638.59 |
| Vehicle Loans | 6,03,751.51 | 6,17,591.20 |
| Loans Against Gold Jewellery | 3,10,136.27 | 3,29,944.17 |
| Consumer Durables | 58,823.16 | 68,814.39 |
| Other Loans | 3,03,747.42 | 3,11,670.71 |
Retail Loans Cross Rs 25 Lakh Crore
Retail lending remained one of the biggest segments of the NBFC credit portfolio. Outstanding retail loans increased from Rs 24.38 lakh crore in March 2026 to Rs 25.19 lakh crore in May 2026.
In just two months, retail credit increased by more than Rs 81,000 crore. The retail loan segment includes housing loans, vehicle loans, loans against gold jewellery and consumer durable loans.
Gold Loans Record Sharp Growth
One of the biggest highlights of the latest NBFC credit data is the strong increase in loans against gold jewellery. Outstanding gold loans increased from Rs 3,10,136.27 crore in March 2026 to Rs 3,29,944.17 crore in May 2026.
This represents an increase of around Rs 19,808 crore in just two months. On a year-on-year basis, loans against gold jewellery recorded a sharp growth of approximately 69.85% in May 2026.
The rapid growth in gold-backed lending shows the increasing importance of gold loans in the NBFC retail credit market.
Consumer Durable Loans Increase to Rs 68,814 Crore
NBFC lending for consumer durables also recorded strong growth. Outstanding consumer durable loans increased from Rs 58,823.16 crore in March 2026 to Rs 68,814.39 crore in May 2026.
The segment added nearly Rs 9,991 crore between March and May 2026. On a year-on-year basis, consumer durable loans grew by around 41.99% in May 2026.
Housing Loans Rise Above Rs 8.34 Lakh Crore
Outstanding housing loans increased from Rs 8,21,225.44 crore in March 2026 to Rs 8,34,638.59 crore in May 2026. The housing loan portfolio increased by around Rs 13,413 crore during the two-month period.
Housing loan data also includes housing loans provided by Housing Finance Companies.
Vehicle Loans Reach Rs 6.17 Lakh Crore
Vehicle loans provided by NBFCs increased to Rs 6,17,591.20 crore in May 2026, compared with Rs 6,03,751.51 crore in March 2026. The vehicle loan portfolio increased by approximately Rs 13,840 crore between March and May 2026. Vehicle loans recorded year-on-year growth of around 14.76% in May 2026.
Commercial Real Estate Credit Records Strong Increase
Credit to the commercial real estate sector increased significantly during the period. Outstanding commercial real estate credit rose from Rs 1,07,768.82 crore in March 2026 to Rs 1,19,602.44 crore in May 2026.
This represents an increase of approximately Rs 11,834 crore in two months. Commercial real estate credit recorded year-on-year growth of around 40.19% in May 2026.
Industry and Infrastructure Credit Decline
While overall NBFC credit increased, credit to the industry sector declined between March and May 2026. Outstanding industry credit fell from Rs 22.06 lakh crore in March 2026 to Rs 21.89 lakh crore in May 2026.
Infrastructure credit also declined from Rs 20.15 lakh crore to Rs 19.97 lakh crore during the same period. Credit to the power sector decreased from Rs 14.21 lakh crore in March 2026 to Rs 14.11 lakh crore in May 2026.
Services Sector Credit Rises to Rs 7.59 Lakh Crore
NBFC credit to the services sector increased from Rs 7,49,499.96 crore in March 2026 to Rs 7,59,616.43 crore in May 2026. Within the services sector, trade credit remained largely stable, while commercial real estate recorded strong growth.
Key Highlights of NBFC Credit Data May 2026
- Total NBFC credit reached Rs 58.60 lakh crore in May 2026.
- Retail loans crossed Rs 25.19 lakh crore.
- Gold jewellery loans increased to Rs 3.29 lakh crore.
- Gold loans recorded 69.85% year-on-year growth.
- Consumer durable loans grew by around 41.99% year-on-year.
- Commercial real estate credit recorded approximately 40.19% year-on-year growth.
- Housing loans increased to Rs 8.34 lakh crore.
- Vehicle loans reached Rs 6.17 lakh crore.
- Industry and infrastructure credit declined between March and May 2026.
