Accelerating Transport Finance: An Analysis Of Nbfcs' Role In Commercial Vehicle Finance In Metropolitan Mumbai

Abstract: Non-Banking Financial Companies (NBFCs) have emerged as vital contributors to the financial ecosystem in India, particularly in the domain of commercial vehicle (CV) finance. With Mumbai being a critical hub of commerce and logistics, the availability and accessibility of commercial vehicle finance directly influence the operational efficacy of the trade and transport sectors. This research investigates the functioning, financing mechanisms, credit policies, customer satisfaction, and market outreach strategies adopted by prominent NBFCs in Mumbai. Through a combination of primary data collection and secondary literature review, the study identifies key trends, strengths, and challenges faced by NBFCs in this niche, and concludes with policy recommendations to improve service delivery and financial inclusion.