After three years of single-digit growth, the NBFC sector is expected to see strong traction in 2022-23. This will be enabled by strong disbursements across product segments, rising consumer spending, growth in the automobiles sector and decent economic growth. According to a recent Crisil report, the AUM of NBFCs will grow at a four-year high rate of 11-12%.

The report mentions vehicle finance and unsecured loan segments as the growth drivers.