Confederation of Indian Industry (CII) and KPMG in India report titled "NBFCs in India: Growth and Stability" offer a holistic view of the NBFC landscape, highlighting the drivers of its development and expansion. It investigates the impact of technology, data and analytics throughout the value chain of NBFCs. It analyses the emergence of super apps, the potential of digital sourcing and partnerships and the application of data driven scorecards for credit and underwriting. Moreover, it emphasises the significance of digital tools in collections, fraud management and cyber and data security. It unfolds the challenge posed by the banking industry and the strategies that NBFCs can adopt to thrive in this competitive scenario.