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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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Bank failures: what’s the Fed’s role?

Silicon Valley Bank is the largest bank failure in the US since the 2008 financial crisis. Viral Acharya and Raghuram Rajan reflect on this and attribute the bank’s collapse to more than bankers’ ...

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The disruptive market power of foreign portfolio investors in the face of tax threat

Foreign portfolio investors in emerging markets are known to exit host capital markets promptly if any policy changes impose additional costs. Based on an analysis of daily trading data during a perio...

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The low productivity trap of collateralised lending for MSMEs

The share of bank credit extended to MSMEs increased dramatically during the pan-demic. In this post, Harsh Vardhan discusses the the government guarantee of bank loans as a possible driver of this gr...

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How NBFCs are reinventing MSME finance

Even though micro and small enterprises make up over 99% of MSMEs in India, they receive a relatively small proportion of bank credit. Chandra and Muthusamy look at how lending to MSMEs has evolved ov...

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Accumulation of household debt in India: Repercussions for economic recovery

The Covid-19 crisis and the subsequent recession has brought about a shift in financial savings; households have cut back on consumption and reduced their demand for credit, and banks tightened lendin...

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Not exactly bad news: Fed tightening cycle’s implications for emerging markets

The conventional perception, that US Federal Reserve rate hikes necessarily imply capital outflows from emerging markets, is an incomplete assessment. This article disaggregates Fed hikes’ effects o...

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Can access to finance spur entrepreneurship in Indian informal sector?

Credit constraints, a consequence of the widespread failure of credit markets in developing countries, are widely regarded as a key constraint to entrepreneurship. Using 2010-11 and 2015-16 National S...

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Consumption smoothing and household savings: Role of demographics and durables

Canonical predictions of life-cycle models indicate that households will smooth consumption over their lifetimes. Conversely, empirical data from high-income countries have shown that consumption cont...

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International financial architecture and emerging economies

Policy responses to Covid-19 have been a mix of fiscal and monetary policy – with the latter doing the heavy-lifting in both developed and developing countries. Against this backdrop, in this editio...

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International financial architecture and emerging economies

Policy responses to Covid-19 have been a mix of fiscal and monetary policy – with the latter doing the heavy-lifting in both developed and developing countries. Against this backdrop, in this editio...

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How do RBI’s actions (and words) affect financial markets?

Financial markets in developed countries are known to react substantially to monetary shocks, that is, surprise changes in policy rates announced by the central bank. Based on a narrative analysis of ...

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Budget 2022-23: Capital gains tax, and asset-price stability

Although there is a need to ensure asset-price stability, the 2022-23 Budget has left the capital gains tax on equity investment unchanged. In this post, Gurbachan Singh examines the idea of a tax as ...

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Jindal School of Banking and Finance

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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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