NBFCs Now Drive Half of Indiaās New-to-Credit Borrowers, Up From 24% in 2016: TransUnion CIBIL-FIDC
Non-banking financial companies now account for 50% of Indiaās new-to-credit borrowers, up sharply from 24% in June 2016, according to a TransUnion CIBIL-FIDC report covering about 2,000 NBFCs. The findings underscore how NBFCs have become a critical gateway to formal credit for first-time borrowers, especially in segments underserved by traditional banks.
