We feature a collaborative blogpost by Pratibha Joshi and Advitha Arun, Small Enterprise Finance Centre, IFMR LEAD


In the present era of digital revolution, technology has been leaving its indelible mark in several areas, including finance. Financial Technology or ‘FinTech’ refers to the provision of financial services on digital platforms. A number of start-ups have emerged in the FinTech space, which provides services in the traditional areas of banking, such as payments, lending and personal finance. From mobile wallets to peer-to-peer lending to insurance, fintech services have redefined the way in which consumers and businesses carry out their routine transactions. According to a report by Accenture[1], global investment in fintech ventures tripled to $12.2 billion in 2014 from $4.05 billion in 2013; a 201% y/y increase. Although investment amounts are in the millions in India, growth between 2013 and 2014 came in at 282% y/y. Data analytics company, Traxcn, finds that there are o…

Parikshit Ghosh (Associate Professor of Economics, Delhi School of Economics) speaks with Kaushik Basu (Chief Economist and Senior Vice President, World Bank and former Chief Economic Adviser, Government of India) on issues ranging from the use of economic knowledge in policy decisions, role of values in public service delivery, to the need for pluralism and tolerance for economic growth, and the importance of communicating good ideas effectively to policymakers and the general public. This interview is part of I4I Conversations series by Ideas for India.

Parikshit Ghosh (PG):The Planning Commission, the renamed NITI Aayog, is perhaps going through a bit of an identity crisis. It was largely a body to channel resources, to plan investments and so on. One of the new roles being talked about is maybe an advisory or consultancy role. Is it right to infer that the World Bank is also moving in the same direction?

Kaushik Basu (KB): The World Bank has been doing that for a long time. We combi…

Parikshit Ghosh (Associate Professor of Economics, Delhi School of Economics) speaks with Kaushik Basu (Chief Economist and Senior Vice President, World Bank and former Chief Economic Adviser, Government of India) on issues ranging from the change in World Bank’s mission and its engagement with the world, rising inequality in the developed world, managing the negative side effects of growth, to the role of behavioural economics and paternalism in development, and the exclusionary nature of the ongoing digital revolution. This interview is part of I4I Conversations series by Ideas for India.



Parikshit Ghosh (PG): When the World Bank was founded, it was out of a sense of international economic cooperation and perhaps there was a feeling that the development of poor countries coincided with the interest of richer countries. But of late, there has been a lot of heartburn about things like outsourcing, immigration, and equity issues surrounding climate change talks. Do you see a rift develo…