PE, Banking & Financial Services

The sector at a glance

Where integrity risk sits in pe.

Capital flows faster than diligence. Investors need to know who they are backing, lenders need assurance that funds go where they should, and every institution now faces fraud that moves at the speed of digital payments. BDI gives investors, banks, NBFCs and family offices the facts before money moves and the monitoring after it does.

Market intelligence

India and the UAE & Dubai, in numbers.

Statistics and regulatory developments from government, regulator and industry sources. Each figure links to its source.

India

Credit, capital markets and private capital are all at record scale, and so is the value of fraud reported to the regulator.

₹48,021 cr

fraud reported by banks and financial institutions in FY26, across 10,114 cases

Source: Outlook Business, citing the RBI Annual Report 2025-26

85%

of FY26 fraud value arose in loans (advances)

Source: Outlook Business, citing the RBI Annual Report 2025-26

US$36 bn

PE-VC investment in 2025, across about 1,700 deals

Source: Bain & Company and IVCA

₹19,813 cr

lost to cyber-enabled cheating in 2025, per NCRP complaints

Source: IANS, citing I4C / NCRP data

Regulatory and market updates

Digital Lending Directions, 2025
The RBI consolidated digital lending rules from 8 May 2025, with enhanced due diligence on lending service providers and multi-lender arrangements from 1 November 2025.Source: Legal 500
DPDP Rules in force
Notified on 13 November 2025, with most obligations, including breach notification, security safeguards and retention, applying from May 2027.Source: Hogan Lovells
Fraud re-examination
FY26 totals include 314 older cases worth ₹30,199 crore re-classified after the Supreme Court's March 2023 ruling on natural justice in fraud classification.Source: Outlook Business, citing the RBI Annual Report 2025-26

Risk map

The integrity risks we see most often.

Exposure ratings reflect BDI's casework and the current market and regulatory environment.

High exposure

Promoter and management integrity

Undisclosed related parties, prior defaults and front companies behind investees and borrowers.

High exposure

Fund diversion and end-use breaches

Loan proceeds and investment capital routed to related entities or non-approved uses.

High exposure

Cyber and payments fraud

Mule accounts, impersonation and social engineering at scale.

Elevated

Collateral and asset misstatement

Over-valued security, encumbered assets and phantom inventory.

Elevated

Insider and conduct risk

Mis-selling, front-running and conflicts in dealing rooms and sales teams.

Elevated

Third-party and agent risk

Lending service providers, DSAs and collection agencies acting outside the rules.

Other challenges

Speed versus diligence

Competitive deals and instant credit leave little time for checks.

Regulatory density

RBI, SEBI, DPDP, UAE AML and Thai anti-scam rules all raise the evidential bar.

Data fragmentation

Signals of fraud sit across registries, courts, media and field sources.

Post-deal blind spots

Monitoring often stops at disbursement or closing.

How BDI helps

Each risk, matched to a response.

The practice that leads and the platform that keeps the record.

Risk	How BDI responds	Practice	Platform
Promoter and management integrity	Senior management, promoter and business partner due diligence with OSINT and discreet HUMINT.	01 · Forensic	Whistle Sentinel
Fund diversion and end-use breaches	Lenders' assurance, agency for specialised monitoring (ASM) reviews, cash control and debtor monitoring.	01 · Forensic 02 · Risk	Pactinex
Cyber and payments fraud	Digital forensics, transaction analytics and investigation of mule and insider networks.	01 · Forensic	Whistle Sentinel
Collateral and asset misstatement	Asset tracing, site and stock verification, and title and encumbrance searches.	01 · Forensic
Insider and conduct risk	Vigil mechanism and speak-up programme with BDI-run triage and audit committee reporting.	02 · Risk 04 · Governance Tools	Whistle Sentinel