New Bankers in town

The private credit market in India is growing rapidly, with assets under management (AUM) projected to reach $60-70 billion by 2028. As banks and NBFCs pull back from mid-market lending, AIFs are stepping in to fill the gap. According to Utsav Johri, Partner at JSA Advocates and Solicitors, large groups are controlling different kinds of lending entities, including AIFs. The market is seeing increased participation from domestic AIFs, mutual funds, and high-net-worth individuals, with private credit providers offering flexible and customized financing solutions to mid-sized corporates.