They're making inroads into microfinance, used car finance and rural housing; retail loans of top 12 NBFC are barely 5% smaller in size than those of top-5 private banks
Bajaj Finserv and M&M Financial Services from the BSE500 index hit record highs on the BSE.
Piggybacking on visible recovery in sales of commercial vehicles, Shriram Transport Finance, M&M Financial and Cholamandalam Finance emerge favourites
NBFC's contribution to the economy has grown from 8.4% in 2006 to above 14% in March last year
Company is looking at setting up a separate housing finance company as the cost of funds that it can tap through the National Housing Board is lower