NBFC unsecured loans grow twice as fast as retail credit

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The story "NBFC unsecured loans grow twice as fast as retail credit" was covered 5 days ago by Times of India, a news publisher based in India.

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Times of India 5d ago

NBFC unsecured loans grow twice as fast as retail credit - Times of India

Quick Summary:

The compound annual growth rate of unsecured loans by NBFCs has reached 32% from FY2017 to FY2024, propelling the share of unsecured retail loans to 14% of overall credit.

This surge, driven by microfinance, personal, and SME loans, has significantly improved the market position of NBFCs in the financial sector, leading to increased regulatory oversight.

However, their improved systemic importance and higher interconnectedness, especially with the banking sector, have led to increased regulatory oversight and actions in the recent past," said Karthik Srinivasan, senior VP, ICRA.