The double-digit growth registered by non-banking financial companies (NBFCs) during the second and third quarters of 2020-21 amid the disruptions caused by the COVID-19 pandemic reflects the 'resilience' of these entities, an RBI article said.
The article is prepared by Nandini Jayakumar, K M Neelima, and Gopal Prasad, from the Department of Economic and Policy Research under the guidance of Ashok Sahoo, Adviser. The views expressed in the article are those of the authors and do not represent the views of the Reserve Bank of India (RBI).
The consolidated balance sheet of NBFCs registered a Y-o-Y growth of 13 per cent and 11.6 per cent in Q2 and Q3 of financial year 2020-21, respectively, the article, Performance of NBFCs during the Pandemic: A Snapshot, published in the RBI's bulletin for May 2021 said.