Why NBFCs have become the option of choice for many first-timer borrowers — Explained
· livemint.com
A joint FIDC–TransUnion CIBIL report says NBFCs are the main entry point to formal credit for many first-time borrowers. As of June 2026, 74% of live new-to-credit customers had used only NBFC credit, reflecting lenders’ reach and role in expanding access.
A higher proportion of new-to-credit (NTC) customers are choosing non-banking financial companies (NBFCs) to make their foray into the borrowing space, accordin...