Notes on India's
private credit.
Working papers, market commentary, and primary research from the LiquiCo desk — covering tokenisation, SCRA-safe liquidity, the Account Aggregator, GIFT-IFSC, and the rails behind it all.
The macro setup.
Five datapoints that frame the opportunity. All figures indicative; founder to verify against primary sources.
India's new investor.
The demand side is changing faster than the product side. Mobile-first, transparency-seeking, and increasingly comfortable with debt and alternatives — not just equity.
Investors aged roughly 26–40 account for the bulk of new demat openings and SIP additions. They expect mobile-first onboarding and digital-native disclosure.
Monthly SIP inflows have repeatedly set new records, evidencing a structural shift from physical assets to financialised, disciplined savings.
Sophistication is rising. Investors now actively seek high-yield NCDs, private credit, real-estate cash flows, and selective alternatives alongside equities.
This cohort assumes mobile access, on-screen attestations, and a clear paper trail. Black-box products lose trust quickly.
Working papers.
Five papers in the pipeline. Click any title for a preview.
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