Tag Search: “monetary policy”

The electoral consequences of India’s demonetisation

It is widely believed that there may have been little or no electoral consequences of India’s demonetisation in 2016. This article analyses voter behaviour following demonetisation. It finds that plac...

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Should low-income countries open up to foreign capital? The India experiment

In 2001 and 2006, India introduced the automatic approval of foreign direct investments of up to 51% of domestic firms’ equity to industries in which foreign investment was initially restricted. This ...

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Cash and the economy: Evidence from India’s demonetisation

‘Demonetisation’ announced in India in December 2016 made 86% of cash in circulation illegal tender overnight, with new notes gradually introduced over the next several months. This article combines n...

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Financing development in India

I4I recently organised a panel discussion on ‘Financing Development in India’ with Prachi Mishra (Goldman Sachs), Andy Mukherjee (Bloomberg), and Ananth Narayan (SPJIMR). The discussion was moderated ...

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Linking lending rates to external benchmark: Challenges and opportunities for banks

The Reserve Bank of India has made it mandatory for banks to link all new floating-rate personal, retail loans, along with loans to micro, small and medium enterprises to an external benchmark-based i...

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Government securities market: Price discovery and the cost of Indian government borrowing

The government securities (G-Secs) market has substantial effects on other markets as the producer of risk-free interest rate benchmarks. Over 2017-18, there was a sharp rise in the interest rates of ...

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Union Budget 2019: An attempt to address the economy’s stress points

In this post, Niranjan Rajadhyaksha contends that in the first Budget of the second Narendra Modi administration, Finance Minister Nirmala Sitharaman has made an honest attempt to address some of the ...

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The great disinflation in emerging and developing economies

Emerging market and developing economies (EMDEs) have achieved a remarkable decline in inflation since the early 1970s. Whether EMDEs can continue enjoying the benefits of low inflation will depend on...

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Indian economy: High performer or Potemkin village?

The recent schizophrenic commentary on the health of the Indian economy raises questions on the true state: Is India doing really well or are we just seeing an impressive facade? In this post, Amartya...

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Bank and its critics

There has been a lot of commentary in recent weeks on the Reserve Bank of India, around its capital base, performance, and autonomy. In this post, Amartya Lahiri contends that RBI has a more coherent ...

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Global financial crisis and India: A look at the decade gone by

The crisis that emerged in the US subprime mortgage market this month 10 years ago, not only engulfed the country’s financial system but the entire global economy. In this post, Vikas Dimble and Nalin...

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Where is the cash?

In recent weeks, reports of currency shortages have emerged from several parts of the country. In this post, Nalini Gulati contends that the cash crunch appears to be temporary and is likely to be res...

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