MUMBAI, March 31 -- India's non-banking financial companies (NBFCs) are unlikely to face material disruption from the US-Iran war, as demand for credit remains robust, industry executives said at the Mint India Investment Summit 2026, held in Mumbai last week.

Shaji Varghese, chief executive officer of Muthoot Fincorp, said that of India's 60 million small businesses, only 20-30% have access to credit, underscoring the critical role NBFCs play in bridging the gap. "That relevance is only further pronounced now. Because of the war I don't think this opportunity has weakened."

NBFCs' contribution to India's total credit supply has grown to over 18% from 12% a decade ago, highlighting their significance in the financial system, Varghese ad...