NBFC

According to CARE Ratings, the credit exposure of banks to NBFCs stood at Rs. 13.8 lakh crore in August 2023, indicating a 25.8 per cent year-on-year (y-o-y) growth.

"NBFCs, particularly NBFCs in the upper layer, have increased bank borrowings, accounting for nearly half of their total borrowings as at the end of December 2022," the bulletin states.