Thematic Report: A Structural Change in Indian Bank- ECL Based Provisioning
RBI's new ECL-based provisioning guidelines will impact banks differently, with PSU and high-unsecured-retail lenders facing more pressure than...
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Aequitas: Avaada Electro Pre-IPO - Offtake Visibility but Concentration and Leverage Risks Remain
Avaada Electro Limited (AEL) is looking to raise around US$800m in its upcoming India IPO. In this note, we look at the firm’s past performance.
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Gold Loan: How a Collateral-First Product Became India's Largest Retail Loan
Gold loans have surpassed home loans in origination value, now accounting for 39% of retail disbursals as of December 2025, driven by rising...
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Event Update - RBI Monetary Policy - April 2026
The RBI’s decision to maintain the repo rate and its Neutral stance did not come as a surprise and was already priced-in. We believe this could be...
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Banking, Financial Services and Insurance (BFSI) - Q4FY26: Earnings Preview
Credit growth has revived strongly (~15% YoY for our coverage universe), led by SFBs and PSBs/Mid-sized private banks, though geopolitical risks...
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