Archive · 8 Jan 2026
Securitisation volumes rise 5% in FY26
In the first nine months of the fiscal year 2026, the amount of money raised through securitisation in India increased by 5% compared to the previous year, reaching Rs 1.87 lakh crore.
This growth was mainly due to non-banking financial companies (NBFCs), which contributed significantly to the market.
Banks, which were active in the previous year, had a very small role this time.
The market also saw more participants, with around 200 originators compared to 150 last year.
Most of the securitisation involved gold and vehicle loans.
Experts expect the market to stay steady for the rest of the year, supported by NBFCs and a possible increase in bank activity.
Securitisation volumes in India rose 5% year-on-year to Rs 1.87 lakh crore in the first nine months of fiscal 2026.
NBFCs drove the growth, accounting for 97% of retail securitisation volumes in the third quarter, up from 71% last year.
Gold loan securitisation increased sharply to 12% of total volumes, while vehicle loans accounted for 43%.
Mortgage-backed securitisation declined to 17%, and microfinance maintained a 12% share despite sectoral stress.
Crisil Ratings expects securitisation volumes to remain steady in FY26, supported by NBFCs and potential bank-led originations.
- Who
- Crisil Ratings
- What
- Securitisation volumes in India rose 5% year-on-year to Rs 1.87 lakh crore in the first nine months of fiscal 2026.
- When
- April–December FY26
- Where
- India
- Why
- Driven by strong originations from non-banking financial companies (NBFCs) and a broader participation base.
- Total Volume
- Rs 1.87 lakh crore
- Growth Rate
- 5% year-on-year
- Period
- April–December FY26
- NBFC Share
- 97% of retail securitisation in Q3
- Gold Loan Share
- 12% of total volumes
- Vehicle Loan Share
- 43% of total volumes
- Mortgage-Backed Share
- 17% of total volumes
- Microfinance Share
- 12% of total volumes
