Reserve Bank of India data shows NBFC credit growth at 15.8% in August 2026 with retail loans up 22%

Key facts

• Non-banking financial companies' (NBFC) credit growth accelerated to 15.8% year-on-year in August 2026 from 10% a year earlier, according to Reserve Bank of India (RBI) data.
• Credit to agriculture and allied activities grew 17.4% year-on-year in August 2026, up from 5.1% a year earlier.
• Credit growth to industry remained largely steady at 8.4% in August 2026 against 8.3% a year earlier, with infrastructure segment growth steady.
• Services sector credit growth moderated to 16.2% in August 2026 from 24% a year earlier; commercial real estate credit expanded buoyantly while trade and transport operators segments decelerated.
• Retail loan growth accelerated to 22% year-on-year in August 2026 from 13.6% a year earlier, with housing loans and loans against gold jewellery accelerating and vehicle loans showing robust growth.
• The RBI's sectoral credit data cover NBFCs in the Upper and Middle Layers and housing finance companies, accounting for about 87% of total credit based on outstanding credit as of September 2025.