India's credit markets most suppressed among large economies, says Ex-SEBI member

A former SEBI member has cautioned that India's credit markets are the most suppressed among large global economies. According to the ex-regulator, structural constraints in credit availability have forced household savings into equity markets, artificially elevating valuations.

This shift has made India less competitive for foreign capital inflows, the former official argued. The warning highlights concerns about the underlying health of India's financial markets and the sustainability of current equity price levels amid constrained credit growth.