Insights
What we're thinking about.
The ₹30 Lakh Crore MSME Credit Gap
India has 79.4 million registered small businesses. Banks are lending to barely 14% of them. Here's the structural reason why — and what actually changes it.
RBI Cuts Rates for the First Time in Five Years. Here's What It Changes.
In February 2025, the RBI cut its benchmark repo rate for the first time since May 2020. The move signals a new phase in Indian monetary policy — and opens a specific window for promoters carrying high-cost debt.
Stressed Assets in India: What the NPA Cycle Tells Serious Capital
India's banking sector gross NPA ratio has fallen from 11.2% to under 3%. But stressed asset inventory remains large — and the capital to revive operating businesses is still scarce.
India Joins the Global Bond Map. What JPMorgan's Index Decision Actually Changes.
JPMorgan's GBI-EM index began including Indian government bonds from June 2024. Bloomberg followed. The passive inflows are here — and they're reshaping the Indian credit market in ways that matter beyond sovereign bond desks.