New-to-credit borrowers surge to 50% of NBFC portfolio in a decade

Non-banking financial companies (NBFCs) have significantly expanded their share of new-to-credit borrowers in India over the past decade. According to a TransUnion CIBIL-FIDC report covering approximately 2,000 NBFCs, the share of new-to-credit customers rose to 50% in June 2026 from 24% in June 2016.

The data indicates a major shift in India's credit landscape, with NBFCs playing an increasingly pivotal role in extending credit to first-time borrowers. This expansion reflects growing financial inclusion efforts and the deepening reach of non-bank lenders into underserved segments of the population.