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Credit growth saw an acceleration this year compared to last year's 10.6%, showed the Reserve Bank of India (RBI) data. However, compared to banks, NBFCs saw a slower credit growth to Rs 60 lakh crore, despite having a lower base. Banks recorded a 19.3% year-on-year growth to Rs 221 lakh crore. Also read: Gold lending industry to witness nearly 28% CAGR over FY26-28E: Motilal Oswal Report Gold loans from non-bank lenders surged 68.5% year-on-year to Rs 3.54 lakh crore, while their consumer durable loans expanded 51.5% to Rs 74.644 crore. In both cases, NBFCs accelerated the pace of growth this year. Last year, their gold loans expanded 43.9%, while consumer durable loans increased 18.8% year-on-year. In comparison, banks' gold loans jumped 88% year-on-year to Rs 5.52 lakh crore, as per RBI data till July 31. Banks' consumer durable loans grew 4.8% to Rs 23,027 crore. Overall retail loans within the NBFCs' credit pie, increased 21.4% year-on-year till July-end, compared with 13.7% a year ago. Housing loans, including those from specialised housing finance companies, increased 11.9% to Rs 8.55 lakh crore. Vehicle loans grew 15.1% to Rs 6.29 lakh crore. NBFCs' credit to agriculture and allied activities recorded an 18% growth against 5.4% a year ago. Credit to industry increased at a slower 7.4% than 9.3% a year ago, primarily driven by subdued growth in infrastructure, a major constituent of the segment. Credit growth in the services sector, too, moderated for NBFCs, declining to 15.2% from 24.5% a year ago. While credit to the commercial real estate marked buoyant expansion, credit growth in trade and transport operators segments witnessed deceleration, RBI said. (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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