Credit outstanding of non-banking financial companies (NBFCs), including housing finance companies (HFCs), grew 14.9% year-on-year to Rs 59.89 lakh crore in July, according to data released by the Reserve Bank of India (RBI). Overall NBFC credit had increased 10.6% on year in July 2025. Outstanding credit rose from Rs 57.76 lakh crore in March this year. Retail loans continued to be a key driver, with outstanding credit to the segment rising 21.4% on year to Rs 26.06 lakh crore in July, compared with Rs 21.46 lakh crore a year earlier. Within retail, loans against gold jewellery recorded the sharpest growth, surging 68.5% on year to Rs 3.54 lakh crore. Consumer durable loans rose 51.5% to Rs 74,644 crore, while vehicle loans increased 15.1% to Rs 6.29 lakh crore.