NBFCs were the largest net borrowers of funds from the financial system, which of the following was second highest net borrowers of funds from the financial system?
Over the last decade, NBFCs have witnessed phenomenal growth. From being around 12% of the balance sheet size of banks in 2010, these are now more than a quarter of the size of banks. NBFCs are the largest net borrowers of funds from the financial system with gross payables of ₹ 9.37 lakh crore as of 30 September 2020. HFCs are the second largest borrowers of funds from the financial system with gross payables of around ₹ 6.20 lakh crore as at 30 September 2020.
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