RBI Press Release

Sectoral Deployment of Credit by NBFC – July 2026

Data on sectoral deployment of credit by non-banking financial companies (NBFCs) for the month of July 2026, collected from major NBFCs and housing finance companies (HFCs), are set out in the Statement1.

On a year-on-year (y-o-y) basis, NBFCs’ credit registered a growth of 14.9 per cent in July 2026 as compared to 10.6 per cent a year ago.

Highlights of the sectoral deployment of credit by NBFCs for the month ended July 31, 2026, are given below:

  • Credit to agriculture and allied activities recorded a robust growth of 18.0 per cent (y-o-y) in July 2026 as against 5.4 per cent a year ago.

  • Credit to industry grew by 7.4 per cent (y-o-y) in July 2026 as compared with 9.3 per cent in July 2025. Moderation in growth was primarily driven by subdued growth in infrastructure, a major constituent of the segment.

  • Credit growth in services sector moderated to 15.2 per cent (y-o-y) in July 2026 from 24.5 per cent a year ago. While credit to ‘commercial real estate’ marked buoyant expansion, credit growth in ‘trade’ and ‘transport operators’ segments witnessed deceleration.

  • Retail loans growth accelerated to 21.4 per cent (y-o-y) in July 2026 compared to 13.7 per cent a year ago. Within retail loans, ‘housing’ and ‘loans against gold jewellery’ segments displayed accelerated credit growth, while ‘vehicle loans’ maintained steady growth.

Ajit Prasad          
Deputy General Manager
(Communications)    

Press Release: 2026-2027/1058

1 Provisional data as reported on the last day of the month. Sectoral credit data of NBFCs are based on sample of (i) NBFCs in Upper and Middle Layers, and (ii) HFCs, accounting for about 87 per cent of total credit with respect to data published in ‘Report on Trend and Progress of Banking in India 2024-25’ (RTP 2024-25, outstanding as on September 2025).