NBFCs Now Account for Half of India’s New-to-Credit Borrowers, Up From 24% in 2016: TransUnion CIBIL-FIDC Report
Non-banking financial companies now originate half of India’s new-to-credit borrowers, up sharply from 24% in 2016, according to a TransUnion CIBIL-FIDC report covering about 2,000 NBFCs. The data underscores the sector’s growing role in widening formal credit access, especially for first-time borrowers outside the traditional banking system.
