NBFC Loan Book to Grow 15-17% in FY26 on GST Reforms, Says ICRA

Last updated: 12 September 2025

The loan book of India's non-banking financial companies (NBFCs) is projected to grow by 15-17% in FY 2025-26, supported by GST rate cuts and better liquidity conditions, according to rating agency ICRA. NBFCs reported a strong expansion of17% in FY25 and 24% in FY24, and the latest GST reforms are

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Category GST   Report

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