Sector wise, NBFCs grew their credit portfolios by close to 20% in FY25, significantly outpacing banks which expanded by 12%. This difference is not merely statistical. It reflects the widening role NBFCs play in meeting the financing needs of households and enterprises that rely on speed, flexibility and local understanding. India’s borrowers told a very different story this year, a story that did not always mirror the global uncertainties or the cautious macro headlines that surrounded us. CY25 was a year of contrasts. While the external environment showed uneven momentum, domestic credit behaviour revealed a shift that was quieter, deeper and more structural. Beneath the surface, a new rhythm emerged in India’s lending landscape, and NBFCs found themselves at the heart of this transition. One of the most defining features of CY25 was the widening divergence in how different borrower segments responded to the economic cycle. Collateral backed lending, including gold loans, secured MSME credit and affordable housing finance, continued to show resilience. At the same time, parts of microfinance and unsecured lending came under visible pressure, particularly in geographies where household leverage had already been stretched. (ICE NEW DELHI)

Fonte notizia: Financial Express