Research Papers

The 2016 Insolvency and Bankruptcy Code (IBC) is a landmark legislation with the potential to impact every borrower. This paper focuses on Part III of the IBC, which deals with natural persons, proprietorships, and personal guarantors for corporate debt. Through the paper, we attempt to estimate the potential consequences of the Fresh Start Process (FSP) defined under this Part. The IBC lays out economic criteria that can qualify (or disqualify) an applicant for FSP. Under FSP, a borrower must be asset-lite, have a low income, and hold minimal outstanding debt to qualify. These thresholds determine the applicability of the process once the IBC is fully notified. Thus, empirical estimates regarding the effects of the provisions on the Indian credit market are crucial to deciphering the impact of the IBC, more specifically, the FSP.

We use an audit methodology where auditors ask for tax saving instruments from banks and document the disclosures made on product features at the time of sale. In private sector banks with high sales incentives, the high commission product is recommended. In public sector banks, where there are deposit mobilisation targets, fixed deposits are recommended. […]

Governments and lenders provide loan moratoria to help struggling borrowers, particularly during an economic crisis. While it can provide relief to borrowers, such a policy also has a possibility of inducing moral hazard among the beneficiaries.

Despite significant policy support for financial inclusion, there is little evidence about what has been achieved by way of knowing which households and individuals are financially included, or what is the impact of such inclusion on these persons.

Colombia’s healthcare domain, like many other sectors in the country, was completely overhauled as part of the country’s sweeping reforms that followed the adoption of a new Constitution in 1991.

In this paper, we document the experience of Germany’s SHI system with managed competition and the challenges faced by this sub-system in faithfully implementing the principles of managed competition as originally envisioned by Enthoven.

In this paper, we look at what made a transition to managed competition possible in the Netherlands, how managed competition has played out, and the challenges that the system currently faces.

In this paper, we propose an analytical framework that provides an overview of the various actors and processes involved in financing, purchasing, provision and provider payments.

Gold dominates household portfolios in India. This has been labelled as irrational behaviour by financially illiterate households. In this paper, we show that household preference towards gold is not irrational in the context of the Indian financial and macroeconomic environment which includes high inflation, financial repression, and capital controls.

In this piece, we revisit Enthoven’s principles and propose a broader definition of the concept of managed competition in order that it may encompass other countries’ experiences that do not conform to a strict application of Enthoven’s concept.