Independent Research and Policy Advocacy

Policy Initiatives

Financial Systems Design

A well-functioning and resilient financial system needs a good mix of institutions that collectively meet the financial intermediation needs of the country, be it individuals, households, businesses, sectors and local governments, while simultaneously enhancing the stability of the system as a whole.

Dwijaraj Bhattacharya

Head - Financial Systems Design

Navaneeth M S

Research Associate

Shree Harini Dvara Research

Shree Harini V

Research Associate

Our Work

April 5, 2011 | Dvara Research

Recently, we flagged off our new blog series on financing options for non-bank originators with our first post that explored debt-funding options in some depth.

By Satya Srinivasan
March 21, 2011 | Dvara Research

In a move aimed at developing the secondary market for securitised debt instruments, SEBI has released a Listing Agreement for such instruments and directed the exchanges to do the needful to enable listing of securitised debt instruments.

By Dvara Research
February 6, 2011 | Dvara Research

Does the RBI's claim to regulate NBFC (MFIs) have more merit than Federal state governments' claims? An analysis of constitutional provisions by Vishnu Peri, IFMR Mezzanine Finance.

By Vishnu Peri
January 27, 2011 | Dvara Research

[The author is an independent columnist. This article is a reproduction of his column from The Telegraph]

By Ashok V. Desai
December 21, 2010 | Dvara Research

The AP microfinance crisis has raised significant questions on the design of the financial system that best ensures inclusion. The crisis has revealed deep discomfort with the regulation of Non-Deposit taking Institutions (NDI). Some observers have equated NDIs to moneylenders.

By Dr. Nachiket Mor, Bindu Ananth
November 16, 2010 | Dvara Research

In what could become a welcome trend, the RBI has started putting out detailed discussion notes on future policy steps.

By Suyash Rai
October 13, 2010 | Dvara Research

Third in the series of articles in The Hindu Business Line, Puneet Gupta and Jayshree Venkatesan of IFMR Mezzanine  Finance write about some of the barriers to accessing finance.

By Puneet Gupta, Jayshree Venkatesan
August 30, 2010 | Dvara Research

Recently, CRISIL has revised the rating of the senior and subordinated securities issued by Pioneer III - a pool securitised by Grameen Financial Services – to AAA(so) and A(so) respectively.

By Kirthi Rao, Gaurav Kumar
July 7, 2010 | Dvara Research

Securitisation of assets by NBFCs came under regulatory purview with draft guidelines being put on the RBI website on June 3rd.

By Sucharita Mukherjee
March 8, 2010 | Dvara Research

IFMR Finance Foundation has come out with a comprehensive manual with a detailed blueprint for commercial banks to deepen financial access in a viable manner using the Business Correspondents (BC) and Business Facilitators (BF).

By sha Krishnakumar