Record-Breaking Securitisation: NBFCs Drive Unprecedented Growth

Securitisation deals reached a record high of Rs 2.55 lakh crore in the fiscal year 2025-26, as reported by Crisil Ratings on Wednesday. This marks a 9% increase, with a notable 20% surge in the January-March quarter alone, driving transactions to Rs 65,000 crore.

The skyrocketing activity was primarily led by non-banking financial companies (NBFCs), which experienced a 30% year-on-year increase in originations. In contrast, banks' contributions declined significantly, falling to only 3% of the total from 26% in the previous fiscal year.

While the securitisation market remains concentrated with most activities driven by top originators, the number of originators rose to 190 in FY2026. Aparna Kirubakaran, Crisil Ratings' director, highlighted the role of NBFCs in enhancing securitisation's appeal as an alternative funding source, especially for mid-sized players.