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Covid-19 and debt moratorium conundrum: The case of microfinance

Given the extent of liquidity shock caused by Covid-19, the Reserve Bank of India enabled all lending institutions to provide their borrowers with a repayment moratorium on term loans until 31 Augus...

  • Perspectives

Productivity growth in Indian banking: Who gained?

Since the deregulation and privatisation reforms of the early 1990s, Indian banking has witnessed many significant changes. This article finds that the sector experienced steady productivity growth un...

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Effect of conflict on bank lending: Evidence from Indian border areas

Conflict can affect economic outcomes through the decisions of key individuals. This article studies the effect of repeated incidents of shellingacross the India-Pakistan border, on loan officers work...

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Bubble in bitcoin or elsewhere?

The price of Bitcoin has skyrocketed. Gurbachan Singh contends that there may or may not be a bubble in cryptocurrencies. If there is a bubble, then the prices will fall eventually, and the story will...

  • Perspectives

Facilitating foreign investment in rupee-denominated debt

On 22 September 2017, the RBI notified that rupee-denominated offshore bonds – popularly known as ‘masala bonds’ – will no longer form part of the limit for investment in corporate bonds by fo...

  • Perspectives

What did demonetisation do to domestic agricultural markets?

When the note ban was announced a year ago, many feared that it would hit agriculture and informal sectors the hardest given the widespread use of cash for transacting in these sectors. Based on analy...

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Recapitalisation of public sector banks, and financial repression

Government of India recently announced its decision to infuse Rs. 2.11 trillion of fresh capital into public sector banks, financed partly through recapitalisation bonds. In this article, Dr Gurbachan...

  • Perspectives

Should India hold US$400 billion of foreign exchange reserves?

RBI’s foreign exchange reserves have now crossed the US$400 billion mark. In this article, Dr Gurbachan Singh discusses why India’s Central Bank should not hold such large reserves.

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Why are finances of Indian states deteriorating?

The combined stock of debt owed by Indian states is about 21% of GDP, and is proliferating. In this article, Ananya Kotia discusses why the stock of the states’ debt is unsustainable today despite ...

  • Perspectives

Caste and credit: Not such a woeful tale?

Caste is an enduring predictor of economic status in India and caste-based discrimination continues to pervade several spheres of life. What about rural lending? This column suggests that most caste-w...

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Stock market participation in the aftermath of an accounting scandal

An emerging literature shows that exposure of fraud in the corporate sector leads to a fall in trust on part of households and decline in their stock market participation. Analysing data on daily inv...

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Financial inclusion: Concepts, issues, and policies for India

The International Growth Centre recently brought out a synthesis paper (Singh 2017) that lays out the basic concepts surrounding financial inclusion, and reviews a wide range of IGC and other studies ...

  • Perspectives

Post demonetisation: Is digital finance in India's future?

Analysing RBI data from June 2017 – six months after demonetisation was announced on 9 November 2016 – Mukherjee and Wadhwa show that reliance on cash has reverted to pre-demonetisation levels, an...

  • Perspectives

Towards financial prescription

The Securities and Exchange Board of India has proposed that the distributors of mutual funds should only be allowed to sell financial products and not act as financial advisers for customers. Drawing...

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Bank financing of stressed firms

There is anecdotal evidence that banks in India have been extending credit to highly distressed firms. By delaying recognition of bad loans, banks may improve their own profitability in the short run...

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Saad Gulzar

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Ben Pasquale

Independent Researcher

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Nicholas Haas

Aarhus University

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Chirantan Chatterjee

Indian Institute of Management Ahmedabad

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Stanford University

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Reserve Bank of India

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Reserve Bank of India

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Most Popular Money & Finance Posts

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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Corporate debt market in India: Issues and challenges

While it is true that the Indian corporate debt market has transformed itself into a much more vibrant trading field for debt instruments from the elementary market that it was about a decade ago, th...

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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 ...

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