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Explainers

 

The impact of robotisation on the world economy: A forward-looking review

Robots have long existed in human imagination and only recently in the real world. The baggage of past imagination often intrudes into our understanding of how real robots will affect our economic lives. This explainer rigorously defines ‘robots’ and artificial intelligence; presents empirical e...

GST Explainer: Introduction

Seventeen years after its framework was formed, India’s biggest tax reform – the goods and services tax – was rolled out on 1 July 2017. Some consider the ‘one nation, one tax’ system to be a game changer; some are opposed to it; almost everyone has questions around its working and how it ...

Explainer: Conceptual foundations of cryptocurrencies

In recent times, cryptocurrencies have become a subject of intense deliberations among policymakers, market participants, investors, and other stakeholders. Whether cryptocurrencies will revolutionise banking and payment systems or is the euphoria surrounding cryptocurrencies like a bubble waiting ...

Explainer: India’s payments banks

In August 2015, the RBI issued in-principle licences to 11 entities to establish payments banks in India – a unique format of banking which has not been used anywhere else in the world. Fully based on modern technology, these banks are expected to bring the huge unbanked population of India under ...