Increasing demand for health care due to a sizeable disease burden and the associated high catastrophic health expenditure (CHE) due to hospitalization is pushing many Indian households into impoverishment. Health insurance (HI) is a protection against CHE. However, HI market is often...

Financial sector development can play a crucial role in driving economic growth. Innovation in the payment system can potentially impact output, prices, and monetary policy transmissions. However, there is a conspicuous lack of work on the role of the payment system in driving economic activity,...