NBFCs overtake housing as top driver of bank credit growth

Banks lent more to non-banking financial companies than to home buyers in the first half of FY27, with NBFC advances rising ₹1.8 lakh crore versus ₹1.4 lakh crore for housing. Outstanding non-food credit grew 19.1% year-on-year to ₹229 lakh crore by September. Gold loans surged 82.6% to ₹5.8 lakh crore, while NBFC lending grew 41.8%.