Non-banking finance companies record over fifty percent credit growth in gold jewellery and consumer durables during September

According to Reserve Bank of India data for September 2026, non-banking finance companies (NBFCs) registered sharp credit growth in specific retail lending segments. Financing directed toward gold jewellery expanded by 66.1 per cent, reaching Rs 3.74 lakh crore compared to the corresponding period of the previous year. Similarly, consumer durable credit grew by 54.4 per cent, touching Rs 77,896 crore. Overall credit growth across the entire non-banking finance sector was recorded at 15.4 per cent, bringing total outstanding credit to Rs 61.69 lakh crore.

This rapid expansion highlights a strong consumer appetite for secured retail loans and consumer financing, with non-banking lenders playing a vital role in extending credit to underserved or rapid-growth segments. The surge in gold loan portfolios reflects heightened reliance on gold assets for immediate liquidity, while consumer durable financing indicates robust retail demand for household goods. Compared to past periods where credit growth was more moderate, these figures point to a pronounced acceleration in specialized lending verticals.

Financial institutions, compliance officers, and credit analysts should monitor sectoral credit expansion, asset-liability mismatches, and risk management practices within non-banking finance companies. Industry participants must track upcoming Reserve Bank of India sectoral credit reports and regulatory guidelines regarding retail lending caps. Keeping a close watch on these lending trends ensures better risk assessment and portfolio positioning in response to shifting consumer credit cycles.