Outstanding loans extended by non-banking financial companies (NBFCs) against gold jewellery surged 69.9% year-on-year in May 2026, making them the fastest-growing lending segment, according to RBI data. Outstanding gold loans stood at ₹3.29 lakh crore at the end of May, up from ₹1.94 lakh crore a year earlier. Overall, NBFC credit grew 14.2% year-on-year in May 2026.