As of the end of fiscal year 2023, non-banking financial companies (NBFC) borrowings from banks and debentures amounted to over ** trillion Indian rupees each. In contrast, government borrowing amounted to *** billion Indian rupees only.Â
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KPMG India. (February 2, 2024). Non-banking financial companies (NBFCs) borrowing in India as of financial year 2023, by source (in trillion Indian rupees) [Graph]. In ÌÇÐÄÆƽâ°æ. Retrieved July 15, 2026, from /statistics/1460151/india-nbfc-borrowing-by-source/
KPMG India. "Non-banking financial companies (NBFCs) borrowing in India as of financial year 2023, by source (in trillion Indian rupees)." Chart. February 2, 2024. ÌÇÐÄÆƽâ°æ. Accessed July 15, 2026. /statistics/1460151/india-nbfc-borrowing-by-source/
KPMG India. (2024). Non-banking financial companies (NBFCs) borrowing in India as of financial year 2023, by source (in trillion Indian rupees). ÌÇÐÄÆƽâ°æ. ÌÇÐÄÆƽâ°æ Inc.. Accessed: July 15, 2026. /statistics/1460151/india-nbfc-borrowing-by-source/
KPMG India. "Non-banking Financial Companies (Nbfcs) Borrowing in India as of Financial Year 2023, by Source (in Trillion Indian Rupees)." ÌÇÐÄÆƽâ°æ, ÌÇÐÄÆƽâ°æ Inc., 2 Feb 2024, /statistics/1460151/india-nbfc-borrowing-by-source/
KPMG India, Non-banking financial companies (NBFCs) borrowing in India as of financial year 2023, by source (in trillion Indian rupees) ÌÇÐÄÆƽâ°æ, /statistics/1460151/india-nbfc-borrowing-by-source/ (last visited July 15, 2026)
Non-banking financial companies (NBFCs) borrowing in India as of financial year 2023, by source (in trillion Indian rupees) [Graph], KPMG India, February 2, 2024. [Online]. Available: /statistics/1460151/india-nbfc-borrowing-by-source/
