New Delhi, June 11 -- Non-Banking Financial Companies (NBFCs) have significantly outpaced commercial banks in credit growth during Fiscal Year 2025, according to a report by Boston Consulting Group (BCG).

The report reveals that NBFCs recorded a robust 20 per cent credit growth, a substantial margin over the 12 per cent growth observed in the banking sector. This accelerated expansion by NBFCs, particularly driven by the Gold NBFC category.

India's NBFC sector's total net advances mirrored this growth, also increasing by 20 per cent year-on-year to reach Rs24.5 lakh crore. This propelled the overall balance sheet size of the NBFC industry to Rs28.2 lakh crore, marking a 20 per cent rise from the previous fiscal year. Total borrowings by...