Independent Research and Policy Advocacy

Deepti George Dvara

Deepti George

Deputy ED and Head of Strategy
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With one and a half decades of experience, Deepti leads Dvara Research’s thinking on regulatory and policy themes in financial and banking systems. Deepti’s area of research and advocacy include consumer protection and institutional conduct, financial inclusion, and retail and wholesale financial services within Indian as well as international jurisdictions. She was part of the core technical secretariat to the Reserve Bank of India’s Mor Committee (2014), and SEBI’s Working Group on Social Stock Exchange (2020), and currently serves as a member of the ongoing SEBI Investor Survey Advisory Committee, and as the convenor for the Special Committee of the C20 on Financial Issues as part of India’s 2023 Presidency of the G20.

She has been member of CGAP’s (Consultative Group to Assist the Poor) coalition on Consumer Protection and has contributed to various fora like the International Financial Consumer Protection Organisation (FinCoNet) and the Global Alliance for Mass Entrepreneurship (GAME). In 2019, Deepti was ranked among India’s top 100 women in finance by the Association of International Wealth Management of India (AIWMI).

Focus policy initiatives

Center For Customer Protection
Financial Systems Design



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March 21, 2024 | Dvara Research

Business correspondent (BC) agents are crucial last-mile infrastructure that support India’s vision for efficient, population-scale delivery of financial and other government services using Digital Public Infrastructure (DPI). These agents primarily facilitate cash deposits, cash withdrawals (together known as cash-in cash-out or CICO), and optionally facilitate access to insurance, savings products, and various welfare schemes for rural and low-income India.

March 1, 2024 | Dvara Research

 Our response covers two themes: Leading from a customer protection perspective, our comments emphasise the need for the prospective SRO to have duties towards the customers, at par with responsibilities towards the regulator.

February 28, 2024 | Dvara Research

Consumer protection in financial services is a core component of Dvara Research’s mission, activities and its advocacy agenda. In this regard, I had the opportunity to participate at Consumers International’s Global Congress 2023, in Nairobi, Kenya, in December 2023.

January 30, 2024 | Dvara Research

In this blogpost, we present our comments primarily to the former, but significantly implicating the latter. We include both frameworks since they cover similar subject matter – the creation of an SRO.

June 30, 2023 | Dvara Research

The SDG Agenda, the sovereign debt crisis and the climate crisis will need brave leadership from not just individual governments of both the global north and the south, but also groups such as the United Nations, the G20, G7 and others, to closely negotiate tough decisions that can have enough impact on the triple inequality – of wealth, carbon and power.

May 6, 2023 | Economic and Political Weekly

Large gaps exist in life insurance coverage in India. The paper examines this issue through a supply-side lens by examining the two key features—the distinction between the agent and the broker model and the alignment of incentive structures with product life-cycle servicing.

January 14, 2023 | ET BFSI, The Economic Times

Tremendous efforts have gone into creating new authoritiessuch as the Central Consumer Protection Authority.

June 16, 2022 | Moneycontrol

By requiring only limited public reporting on asset quality, banks in India have enjoyed a level of opacity that banks in other jurisdictions do not

May 3, 2022 | Moneycontrol

An RBI Working Group has suggested that lending service providers be disallowed from providing credit enhancements such as FLDG (first-loss-default-guarantee). However, a risk-proportionate regulation of FLDG could address its risks, while allowing the ecosystem to benefit from innovation.

January 4, 2022 | Dvara Research

In our response, we question the assumptions put forth by the discussion paper for the creation of DBs and the concomitant licensing and regulatory regime.

By Deepti George, Madhu Srinivas