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WazirX: Socialisation of losses and need for financial regulation

The cryptocurrency exchange WazirX recently faced a security breach resulting in huge losses for its users. In this post, Nipuna Varman evaluates the ‘loss socialisation’ recovery plan that was in...

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How RBI’s macroprudential policies shape housing loan decisions

The recent surge in housing finance in India calls for a robust regulatory framework to ensure financial stability and avert overheating of the housing market. Using data on individual mortgage loans ...

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Green is good: Risk insights into Indian green stocks

While consistent financial flows towards climate resilience are crucial, there is a recent global trend of withdrawal of investment from ‘green assets’. Given the centrality of potential risk-adju...

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When is corporate debt a threat to macroeconomic stability?

Since the 2007-08 Global Financial Crisis, policymakers have focused on household debt as the primary risk factor for macroeconomic stability. Should they be similarly worried about corporate debt? Ba...

  • Articles

WazirX: Socialisation of losses and need for financial regulation

The cryptocurrency exchange WazirX recently faced a security breach resulting in huge losses for its users. In this post, Nipuna Varman evaluates the ‘loss socialisation’ recovery plan that was in...

  • Perspectives

How RBI’s macroprudential policies shape housing loan decisions

The recent surge in housing finance in India calls for a robust regulatory framework to ensure financial stability and avert overheating of the housing market. Using data on individual mortgage loans ...

  • Articles

RBI’s extraterritorial influence on the rupee market

The emergence of the offshore non-deliverable forward market in the rupee has made it more challenging for the RBI to maintain exchange rate stability. In this post, Datta and Sengupta explain the dri...

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India’s foreign reserves and global risk

India’s foreign exchange reserves, relative to GDP, have been on the rise. This article examines the motives behind the hoarding of reserves by central banks, and if adequate reserves are held for p...

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Green is good: Risk insights into Indian green stocks

While consistent financial flows towards climate resilience are crucial, there is a recent global trend of withdrawal of investment from ‘green assets’. Given the centrality of potential risk-adju...

  • Articles

Embracing the melody of dissent: A symphony in policymaking

In recent times, members of the Monetary Policy Committee of the Reserve Bank of India, have expressed views that are contrary to the MPC’s official stance. This article investigates the influence o...

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The silent reshaping of India’s credit landscape

India’s credit landscape has been undergoing major changes in recent years. In this post, Sengupta and Vardhan discuss five key trends – consumerisation of bank credit, decline in bank deposits, g...

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Irrationality in financial decisions: A policy proposal

The high valuations of small- and mid-cap stocks in the Indian market seem indicative of irrational exuberance. In this context, Gurbachan Singh discusses the prevailing policy framework to deal with ...

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16th Finance Commission: Towards vertical and horizontal balance

The recommendations of the recently constituted Sixteenth Finance Commission (FC16) will govern the sharing of revenues between the Union and states during 2026-2031. In this post, Ganguli and Sinha l...

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Emergence of a private credit market in India

The last few years have seen the growth of a private credit market in India, which offers financing to small and mid-sized firms with a relatively high default risk. In this piece, Datta and Sengupta ...

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A more focused RBI: Creating capacity to tackle ‘true’ market failure

Large, routine payments to the government by the public lead to liquidity crunch in the economy, necessitating interventions by the central bank. However, Gurbachan Singh argues that the RBI is better...

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Karsten Muller

National University of Singapore

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Luc Laeven

European Central Bank

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Şebnem Kalemli-Özcan

Brown University

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Victoria Ivashina

Harvard Business School

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Nipuna Varman

National Institute of Public Finance and Policy

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Debasis Rooj

FLAME University

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Reshmi Sengupta

FLAME University

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Asish Saha

Ramcharan School of Leadership; MIT WP Univ

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While India’s insurance sector has been growing dynamically in recent years, its share in the global insurance market remains abysmally low. This article traces the journey of the Indian insurance s...

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Financial inclusion is globally considered as a critical indicator of development and well-being of society. In this post, Srinivasa Rao traces the financial inclusion journey in India so far, and dis...

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Thinking about financial sector reforms in India

A key element of the economy that needs to function well in order to facilitate India’s strong and sustained recovery from the pandemic is the financial system. In this post, Sengupta and Vardhan d...

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