India NBFC credit growth accelerates to 15.8% y/y in August 2026

RBI data shows NBFC credit growth in India accelerated to 15.8% y/y in August 2026, up from 10.0% a year ago, with agriculture credit surging to 17.4% from 5.1%. This indicates robust credit demand in the non-bank financial sector, supporting growth but also raising potential overheating concerns. The data is preliminary and based on major NBFCs/HFCs, so revisions are possible.