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Stability at the cost of growth? Rethinking liquidity rules in India’s banking sector

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How Atal Pension Yojana is helping Indians save for retirement

Government of India’s contributory pension scheme, Atal Pension Yojana, encourages citizens to save for retirement. This study finds that APY not only provides a basic pension, but also promotes bro...

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The State within India’s corporate bond market

The value of gross issuances in India’s corporate bond market has grown by 150% over the past decade. In this post, Harsh Vardhan contends that while the market has become bigger, reforms are needed...

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Finance for small-firm growth: Towards flexibility and innovation

While microfinance contract innovations like repayment grace periods help small-firm owners, they can increase default rates for microfinance institutions. Based on field experiments in Pakistan and K...

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Stability at the cost of growth? Rethinking liquidity rules in India’s banking sector

Liquidity regulation – quantity-based requirements mandating banks to maintain enough high-quality assets to meet short-term obligations during periods of stress – is a long-standing policy tool o...

  • Articles

How Atal Pension Yojana is helping Indians save for retirement

Government of India’s contributory pension scheme, Atal Pension Yojana, encourages citizens to save for retirement. This study finds that APY not only provides a basic pension, but also promotes bro...

  • Articles

The State within India’s corporate bond market

The value of gross issuances in India’s corporate bond market has grown by 150% over the past decade. In this post, Harsh Vardhan contends that while the market has become bigger, reforms are needed...

  • Perspectives

How financial stress impacts consumer confidence

The financial turmoil of 2008 and the subsequent recession amplified the association between vulnerabilities in the financial markets and the real economy. Examining the behavioural responses of India...

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New banks, credit, and misallocation

In the late 1990s, India opened its banking sector to new private banks – both domestic and foreign. This article shows that this resulted in greater flow of credit – but only for big firms. Highe...

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Seeking ‘greenium’

While sustainable investing is growing rapidly, it is unclear who is benefitting from this and how. Based on analysis of data on green bonds and loans, this article finds that the gainers are mainly f...

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Finance for small-firm growth: Towards flexibility and innovation

While microfinance contract innovations like repayment grace periods help small-firm owners, they can increase default rates for microfinance institutions. Based on field experiments in Pakistan and K...

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Do commodity derivatives suspensions rein in food price inflation?

Since December 2021, derivatives trading on seven agricultural commodities remains suspended, driven by concerns over excessive speculation and its potential impact on food prices. This article highli...

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RBI’s costly experiments with the currency

During 2023-2024, the average annual volatility of the rupee-dollar exchange rate was 1.8% – the lowest in over two decades. In this post, Patnaik, Pandey and Sengupta explain why sudden and sharp l...

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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...

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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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Recent Contributors

Sameedh

Sameedh Sharma

King's College London

Debasis

Debasis Rooj

FLAME University

Reshmi

Reshmi Sengupta

FLAME University

Harsh

Harsh Vardhan

Management Consultant and Researcher

Anurag

Anurag Banerjee

Jindal School of Banking and Finance

Pavel

Pavel Chakraborty

Lancaster University

Nirvana

Nirvana Mitra

Centre for Advanced Financial Research and Learnin

Jitendra

Jitendra Aswani

MIT Sloan

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India’s insurance sector: Challenges and opportunities

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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Thinking about financial sector reforms in India

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