Disruption in business and economic activity amid Covid-19 had restricted loan growth for NBFCs to between 2% to 4% in fiscal ending March 2020 and March 2021, and to 5% in fiscal 2022. But better economic prospects due to a revival in loan demand is expected to help NBFCs post a 11% to 12% in the fiscal ending March 2023, a four-year high — to about Rs 13 lakh crore.
