NBFC credit to gold jewellery, consumer durables grows over 50 pc in Sep: RBI data

Mumbai: Non-banking finance companies' credit to gold jewellery and consumer durables witnessed a sharp growth of over 50 per cent in September, the Reserve Bank said on Friday. According to the apex bank's data, non-banking finance companies (NBFCs) credit towards gold jewellery outstanding for non-bank lenders increased 66.1 per cent to Rs 3.74 lakh crore in September 2026 compared to Rs 2.25 lakh crore in the year-ago month. Also Read: Gold loan NPA rises in first five months while eases over a three-year horizonSimilarly, NBFC credit to consumer durables increased by 54.4 per cent year-on-year to Rs 77,896 crore from Rs 50,411 crore, RBI data showed.

The overall credit of NBFCs registered a 15.4 per cent growth to Rs 61.69 lakh crore in September 2026 from Rs 53.46 lakh crore a year ago. Credit to agriculture and allied activities recorded a robust growth of 17.8 per cent in September 2026 against 5.2 per cent a year ago. Also Read: Middle class spending boom in India comes with growing debt billLending growth in the industry sector declined to 7.4 per cent in September 2026 from 10.2 per cent in the year-ago month.

Credit growth in 'infrastructure' remained subdued. Credit growth in the services sector moderated to 17.3 per cent in September 2026 from 23.0 per cent a year ago. While lending to 'commercial real estate' marked buoyant expansion, trade and transport operator segments also witnessed higher credit growth.

Retail loans growth accelerated to 21.9 per cent in September 2026 compared to 16.8 per cent a year ago. Within the retail sector, 'housing loans', 'loans against gold jewellery' and 'vehicle loans' witnessed accelerated credit growth.