Independent Research and Policy Advocacy



We produce blogs to discuss new research findings, ongoing projects, and even personal reflections on the research process. Our blogs are written for a variety of audiences, including other researchers, policymakers, practitioners, financial service providers, grassroots organizations, impact investors and the public. The format is simple and easy to grasp. The language is straightforward, and the tone is non-academic. Our blogs can be of varying lengths. We choose to write a blog when we don’t want to do a full- fledged study or follow a rigorous research process. Blogs may contain opinions and they can also be based on experiences. Some of our blogs may just share some observations, learnings, or challenges.

Our Work

October 29, 2009 | Dvara Research

In March 2009, IFMR Capital (presently known as Northern Arc Capital) and Equitas Micro Finance concluded the first securitisation of micro-loans in India. Following that landmark transaction, on October 27th 2009 the associated PTCs (pass-through-certificates or securities) received a ratings upgrade from CRISIL. The senior tranche of PTCs was upgraded from AA (so) to AAA (so) — CRISIL’s highest long term safety rating. The junior tranche was upgraded from BBB (so) to A (so).

By Dvara Research
October 14, 2009 | Dvara Research

Mobile phones, unlike any other technology, have penetrated and affected the lives of ordinary Indians in a very short time.

By Dvara Research
July 10, 2009 | Dvara Research

The miracle that microfinance is thought to be was subjected to a randomized evaluation in a study which was a result of a research partnership between MIT and the Centre for Microfinance at IFMR.

By Dvara Research