Insights
Notes from the book
Writing from our team on micro-business credit, AI underwriting and what 26,900 loans have taught us about how the smallest businesses in India actually repay. It opens with 100 days on Indian lending — one post a day from our co-founder, September to December 2026, with real numbers throughout.
Day 2 of 100 · 16 September 2026 · The line every lender stops at
A ₹2 lakh loan costs almost as much to make as a ₹20 lakh loan. That is the whole story.
Yesterday I said lenders left the small ticket for arithmetic reasons, not appetite. Here is the arithmetic.
Read →Day 1 of 100 · 15 September 2026 · The line every lender stops at
All of India's micro-enterprise credit growth came from ticket size. None of it came from reach.
Between 2023 and mid-2025, credit outstanding to India's micro-enterprises grew 37.6%. Over the same 21 months, the number of micro-enterprise borrowers fell 6.3%.
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