RBI says NBFCs's gold-backed loans rose 68.5% in July 2026

Business Sep 07, 2026

Gold-backed loans from NBFCs shot up by 68.5% in July 2026 compared to last year, according to the RBI.

This huge spike follows similar growth in June and reflects how rising gold prices have made lenders more comfortable with the segment.

NBFCs, HFCs retail credit up 21.4%

It wasn't just gold: consumer durable loans climbed by 51.5% and housing loans from NBFCs, including housing finance companies, grew by 11.9%.

Vehicle loans grew 15.1% in July. Overall, retail credit by NBFCs and housing finance companies expanded by 21.4%.

Meanwhile, lending to the services sector slowed down a bit, growing just over 15% this July after stronger numbers earlier.