Are the determinants of financial inclusion always manipulable and rankable? A novel framework for examining financial inclusion interventions
In this blog, the author has attempted to summarise the vast literature on the determinants of financial inclusion using a framework developed by Moscona et al (2026).
Comments on Draft Amendment Directions on ‘Conduct of Regulated Entities in Recovery of Loans and Engagement of Recovery Agents’, dated 20th May 2026
The Draft Amendments provide detailed guidance to relevant regulated entities (REs) on the loan recovery process, including mandatory certification for recovery agents, safeguards against harassment, grievance redressal mechanisms, and compensation for wrongful use of technology-based mechanisms.
What is Actually Happening in the Microfinance Sector?
This is Part 1 of a 3-part series on the recently released NCAER-MFIN report, “Assessing the Effectiveness of Regulated Small Borrowing in India” (March 2026).
Submission to International Finance Corporation (World Bank Group) for the inclusion of risks of over-indebtedness and debt distress among microfinance borrowers, in its Environmental and Social (E&S) Framework
In response to the public consultation, we argue that borrower over-indebtedness is a customer protection concern that must be explicitly recognised in the revised E&S Framework.
Comments to the Discussion Paper – Exploring safeguards in digital payments to curb frauds
In this response, we present our comments to the paper. We divide our comments into three sections.
Remedies for digital payment frauds
Static safeguards, targeting discrete acts of fraud, will only spur fraudsters to probe other vulnerabilities
Comments to Draft Reserve Bank of India (Commercial Banks – Responsible Business Conduct) Amendment Directions, 2026, dated 6 March 2026
In this response, we present four recommendations to the Draft Amendments.
Unpacking Customers’ Trust: How do Customers come to Trust Digital Lenders?
By studying people’s instinctive, unguided ‘trust-decisions’, we hope to uncover their mental models of trust. More specifically, we aim to (i) articulate the expectations that customers have of trustworthy lenders, (ii) help lenders design their products in a manner consistent with the customer’s expectations, and (iii) translate these principle-level expectations into processes that lenders may adopt in their customer service to become trustworthy.
Life insurance and the importance of proper disclosures
This will inspire more consumer trust, and enhance transparency among agents
Our response to the RBI’s Draft framework for recognising Self-Regulatory Organisations (SRO) for FinTech Sector
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.
