The compound annual growth rate of unsecured loans by NBFCs has reached 32% from FY2017 to FY2024, propelling the share of unsecured retail loans to 14% of overall credit. This surge, driven by microfinance, personal, and SME loans, has significantly improved the market position of NBFCs in the financial sector, leading to increased regulatory oversight. 

Source: The Times of India/ToI

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