Companies shift to bank loans as bond costs rise, driving 81% share of fresh credit: Jefferies

Indian companies are increasingly relying on bank loans as corporate bonds and other borrowing sources become more expensive, with banks accounting for 81% of fresh credit between November 2025 and August 2026, according to Jefferies. Bank credit growth rose to 18% in August, led by corporate borrowing, while non-bank credit growth slowed to 10%.