New Delhi, July 9 -- A sustained revival in vehicle sales is critical for long-term growth in the Non-Banking Financial Companies (NBFC) and insurance sectors, according to a report by Emkay Research.

While there is a broad consensus that stress in microfinance institutions (MFIs) and unsecured personal loans (PLs) is largely behind, so a pick-up in vehicle sales is now essential for continued recovery.

It stated, "MFI revival and unsecured PL stress being largely behind is now a consensus view; however, revival in vehicle sales is key for a sustained growth revival".

The report pointed out that while regulatory changes have contributed to some volatility in capital market-linked stocks in the near term, they may also present attractiv...