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Money & Finance

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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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Are banks responsive to credit demand shocks in rural India?

The output of Kharif crops is estimated to decrease by about 2% this year due to deficient monsoon rains in some Indian states. How responsive are commercial banks to a credit demand shock in rural I...

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Emergence of Bandhan as a bank: A new era in the Indian banking industry

At a time when the Indian banking industry is experiencing a steep rise in bad loans, Bandhan – an MFI with a near 100% loan recovery rate – has converted into a bank. Based on a survey of 112 Ba...

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Inclusive finance for inclusive growth: A gender perspective

While research has established that financial inclusion programmes lead to economic upliftment of poor families owing to the participation of women, the evidence on the impact of such programmes on w...

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Foreign borrowing by Indian firms: Implications for growth and macroeconomic stability

This project analyses the pattern of external borrowing by Indian firms, an exercise that has as yet not been carried out. It identifies possible drivers of such borrowing.

  • IGC Research on India

Reining in gold imports

In an attempt to reduce gold imports, the Indian government has proposed three new schemes – gold monetisation, sovereign gold bonds, and domestic production of branded gold coins. In this article,...

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Barriers to basic banking in India

The Indian government is promoting the Jan Dhan Yojana, Aadhaar and mobile banking – or the “JAM trinity” — as the pathway to financial inclusion. But are banks capable or even willing take o...

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Impact of American FDI in India

The United States is one of India’s largest trade and investment partners. This column discusses the impact of American FDI in India in terms of direct effects such as job creation, exports and tec...

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Can bank account-based payments boost savings?

?The Finance Ministry plans to focus on mobilising savings in the next phase of PMJDY, the financial inclusion scheme. This column presents results from an experiment in Chhattisgarh, which tests whe...

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The financial inclusion agenda and Aadhaar

The central government is pushing financial inclusion in a big way. In this article, MS Sriram discusses the role of identity in financial inclusion, and the importance of Aadhaar in this context. He...

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Foreign Fund Flows and Stock Returns: Evidence from India

This project studies the impact of foreign institutional investor (FII) flows on stock returns in India. It exploits stock-level daily trading data for FII purchases and FII sales to separate stocks i...

  • IGC Research on India

Financing India's infrastructure growth

Interest rates in the developed economies are still at very low levels, while investors are looking for high and stable returns for their money. This article outlines an innovative proposal for finan...

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Challenges and priorities for financial sector reform in India

I4I Editor Nirvikar Singh (Professor, University of California, Santa Cruz) interviews K.P. Krishnan (Former Additional Secretary, Department of Economic Affairs, Ministry of Finance) on the central ...

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Most Popular Money & Finance Posts

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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Financial inclusion in India: Progress and prospects

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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