Mumbai: Outstanding loans by Non-Banking Financial Companies (NBFCs) against gold jewellery stood at Rs 3.42 lakh crore at the end of June 2026, up 69.3 per cent from Rs 2.02 lakh crore a year earlier, marking the fastest growth among all major lending segments, data released by the Reserve Bank of India showed.The figure was at Rs 1.44 lakh crore in June 2024.Retail credit remained the key driver of the overall lending by NBFCs, with growth accelerating to 20.3 per cent year-on-year in June 2026 from 14.3 per cent a year earlier. Within the segment, housing loans, vehicle loans and loans against gold jewellery recorded robust expansion, supporting the strong momentum in consumer lending.Credit to agriculture and allied activities accelerated sharply in June 2026, expanding 17.9 per cent year-on-year compared with 5.1 per cent in the corresponding month last year.Credit growth to the industrial sector, however, slowed to 6.7 per cent year-on-year in June 2026 from 10.3 per cent a year ago, mainly due to weaker lending to infrastructure, which constitutes the largest share of industrial credit.Lending to the services sector by NBFCs also moderated, growing 17.6 per cent from 22.4 per cent in June 2025, as slower credit expansion in trade and transport operators offset strong growth in commercial real estate.
NBFC gold jewellery loans jump 69 pc in June, fastest across segments: RBI data
Non-Banking Financial Company gold loans surged significantly by June 2026. Retail credit remained the primary driver for NBFC lending growth. Housing and vehicle loans also showed robust expansion during this period. Agriculture credit accelerated sharply, while industrial sector growth slowed down. Services sector lending moderated as trade and transport operators expanded credit slower.
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