NBFC retail credit surges 20% as gold and durable loans power consumer spending
RBI data shows NBFC credit up 14% YoY in May, led by a 20% jump in retail loans. Gold-jewellery loans rocketed 70% to Rs 3.29 lakh crore, consumer durable loans rose 42%, and vehicle loans grew 15% — even as bank durable financing slipped 3%, signalling NBFCs are the key rail funding India's durables and discretionary retail demand.
RBI data shows NBFC credit growth led by retail loans (+20%), with consumer durable loans surging 42% and gold-jewellery loans jumping 70% — key financing rails supporting Indian consumer purchases and durables retail demand.
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