Independent Research and Policy Advocacy

Amulya Neelam Dvara

Amulya Neelam

Senior Research Associate
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Amulya is a Senior Research Associate in the Financial Systems Design initiative. Her research focuses on understanding and improving access to suitable financial services for all, especially low-income households. Her work aims to enable the creation of a regulatory framework that fosters both meaningful inclusion and financial stability.

Amulya holds a Master’s in Rural Management from the Institute of Rural Management, Anand. She also holds a dual degree from BITS Pilani with a Bachelor’s in Chemical Engineering and a Master’s Degree in Mathematics. Previously, she served in a project management role with Tata Trusts in Odisha and has also gained experience in the field of education assessment.

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Financial Systems Design



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March 15, 2024 | Dvara Research

In light of the challenges and opportunities presented by the prevalence of Digital Financial Services (DFS), the Digitizing Women’s Money Management (DWMM) project is aimed at contributing to the improvement of the landscape of financial services for women in Low-Income Households (LIHs).

March 7, 2024 | Dvara Research

In an increasingly digitized world, Digital Financial Services (DFS) have emerged as a key tool for transacting, borrowing, saving, and investing. Policymakers and Financial Service Providers (FSPs) are keen to leverage DFS to advance financial inclusion, particularly for women from Low-Income Households (LIHs).

June 3, 2023 | Economic and Political Weekly

Analysing the contents of the Reserve Bank of India’s biannual FSRs and the methodology of the RBI’s supervisory stress tests reveals that there is scope for improvement, specifically regarding the continuity in the tracking of certain risk drivers, the extent of commentary on the information, and aspects of stress tests.

April 14, 2023 | Dvara Research

An action project to help financial service providers detect debt distress among their borrowers and administer interventions to alleviate distress. Read the full report here.

April 14, 2023 | Dvara Research

An action project to help financial service providers detect debt distress among their borrowers and administer interventions to alleviate distress.

January 9, 2023 | ThePrint

Low-income households work with irregular income inflows, resulting in shrinking financial planning horizon and necessitating frequent decisions in response to frequent changes.

March 14, 2022 | Dvara Research

We presented detailed feedback on the Reserve Bank of India’s Discussion Paper on Review of Prudential Norms for Classification, Valuation and Operations of Investment Portfolio of Commercial Banks in the form of answers to the ten questions posed within the Discussion Paper.

By Amulya Neelam, Madhu Srinivas
December 14, 2021 | CNBC TV18

Complex financial instruments and products can help consumers to meet their precise financial needs even if they are opaque in their design details due to the underlying mathematical principles. Regulators need to understand that restricting complexity in design is not in the best interests of the consumer.

By Dr. Nachiket Mor, Amulya Neelam
December 1, 2021 | Dvara Research

Bad Banks are typically Government sponsored Asset Reconstruction Companies (ARCs) setup with the primary objective of cleaning up bank balance sheets. Unlike private ARCs, the Bad Banks are setup as a one-time measure with the primary objective of reducing the build-up of Non-Performing Assets (NPAs) post a financial or economic crisis.

August 3, 2021 | Dvara Research

A Convening on ‘Emerging Customer Risks in Digital Lending’ was conducted on April 22nd and 23rd, 2021, by Dvara Research Foundation in collaboration with the Consultative Group to Assist the Poor (CGAP).

By Amulya Neelam, Sarah Stanley, Eric Duflos, Jayshree Venkatesan