India’s securitisation volume rises to Rs 73,000 crore in July-September
India’s securitisation market has shown modest growth in the second quarter of the fiscal year 2026. According to data from the credit‑rating agency ICRA, volumes rose to about ₹73,000 crore, up from roughly ₹70,000 crore in the same period last year.
The jump isn’t just a repeat of last year’s pattern. In 2025, a single big bank drove most of the increase. This quarter, the lift comes from a handful of large corporate deals and a broader spread of lenders, especially micro‑finance companies. “Lenders are favoring securitisation over keeping loans on their balance sheets,” said Manushree Saggar, Senior VP and Group Head of Structured Finance at ICRA.
Routine volumes – the core of the market – stayed steady at ₹50,000 crore, matching the agency’s forecast. Even though some vehicle‑ and mortgage‑lender pack‑ups slowed, micro‑finance players kept rising, balancing the market’s overall health.
Crisil Ratings added that non‑bank financial companies (NBFCs) were the dominant originators, accounting for 69 % of the market volume in Q2. Their activity grew 15 % year‑on‑year. “We saw more money raised in vehicle, business, gold and micro‑finance loans this quarter compared to the first quarter,” said Aparna Kirubakaran, Director at Crisil. Issuances for mortgages and personal loans, however, stayed moderate.
Overall, India’s securitisation scene is expanding, with a clearer shift toward diversified corporate and micro‑finance participation. This trend signals lenders’ growing appetite for risk‑managed investment vehicles and a broader, more resilient market base.
Source: ianslive
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