We examine how the development of the digital infrastructure known as the “India Stack”—including an interoperable payments system, a universal digital ID, and other features—is delivering on the government’s objective to expand the provision of financial services. While each...

This paper while emphasising the importance of the concept of financial stability in wake of recent global financial crisis in particular and other (banking and financial) crises in general attempts to highlight the significance of the soundness of banking sector in emerging economies where...

We study the impact of a government-mediated takeover of weak small banks by stronger large banks in India during the recent banking crisis on loan performance. Our within borrower-time and between banks tests show a 25% reduction in delinquency. Evidence on mechanisms suggests that borrowers...