New Delhi, May 5 -- Non-Banking Financial Companies (NBFCs) are growing at a higher rate than India's overall economic growth and it is expected to continue its growth at a faster pace according to a new report released by Mavenark Advisors.

The report highlighted how NBFCs have played an increasingly important role in India's financial system over the past two decades and are now well-positioned to continue expanding, especially in the retail and rural segments.

It says "credit growth of NBFCs which has trended above India's GDP growth historically, is expected to continue to rise at a faster pace".

The report noted that NBFCs have shown strong resilience over the years. Their assets under management (AUM) have grown significantly--fr...