RBI data shows NBFC credit growth rises to 15.8%
In short
RBI data shows NBFC credit growth rose to 15.8% year-on-year in August 2026. Retail loans increased 22%, and the reporting says agriculture, gold loans and consumer durable loans also helped.
This is good for NBFC lending, but services credit slowed. What is still unclear is whether this pace will continue in the next month.
What the reporting says
RBI data shows NBFC credit growth accelerated to 15.8% year-on-year in August 2026, with retail loans rising 22%, according to publisher summaries. The growth was driven by gains in agriculture, retail, gold loans and consumer durable loans, while services credit moderated and lending to services declined in one summary. The immediate consequence is a stronger lending picture for NBFCs, but the uneven sector mix still points to slower growth in services.
Why it matters
RBI data shows non-banking financial company credit growth accelerated to 15.8% year-on-year in August 2026, while retail loans rose 22%, according to publisher summaries. Gains came from agriculture, retail, gold loans and consumer durable loans, but services credit moderated and lending to services declined in one summary. That leaves NBFCs with a stronger overall lending trend, though the services segment remains softer.