Banks vs NBFCs: Which stocks could benefit as RBI set to hike rates for the first time in 3 years?

The RBIs expected first rate hike in three years could have a mixed impact on banks and NBFCs. While higher funding costs may pressure NBFC margins, lenders with floating-rate assets and strong liquidity could benefit. Brokerages favour HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Bajaj Finance and Tata Capital.

Oct 6, 2026 - 12:00
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Banks vs NBFCs: Which stocks could benefit as RBI set to hike rates for the first time in 3 years?
The RBIs expected first rate hike in three years could have a mixed impact on banks and NBFCs. While higher funding costs may pressure NBFC margins, lenders with floating-rate assets and strong liquidity could benefit. Brokerages favour HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Bajaj Finance and Tata Capital.

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