NBFCs Now Drive Half of India’s New-to-Credit Borrowers, Up From 24% in 2016: TransUnion CIBIL-FIDC Report
Non-banking finance companies now account for 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 findings underscore the sector’s growing role in widening access to formal credit, particularly for first-time borrowers outside the traditional banking system.
