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WORKING PAPERS

NIBM working paper series is an initiative to disseminate the initial research outcome of NIBM faculty members. The major research areas are Finance, International Finance, Credit Risk, Market Risk, Operational Risk, Treasury, Agricultural Finance, Economics, Marketing, Strategy, Operations Management, Analytics, Information Systems, and Human Resource Management within the broad areas of banking and finance. These research works are not peer-reviewed. The idea is to share the research outcomes to receive comments and suggestions. Some of the papers are expected to be under review for possible publications in peer-reviewed journals. Any citation of these research papers requires to mention of the appropriate URL with the source, and the date of access.


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Paper Number:  WP 19/2022
Publication Year:  June 2022

RBI’s Post-Covid Monetary and Liquidity Measures: Impact on Money, Bond and Credit Markets

Authors:   Jiji T Mathew, jiji@nibmindia.org

This paper focuses on RBI’s post-covid monetary policy and liquidity measures and its effects on money, bond, deposit and credit markets in terms of interest rate transmission. The first objective of this study is to discuss and assess the various conventional and unconventional policy measures introduced by RBI since …

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Paper Number:  WP18/2022
Publication Year:  May 2022

Impact of Recent MPC Announcements on Equity and Forex Markets

Authors:   Smita Roy Trivedi, smita@nibmindia.org

The “unscheduled” Monetary Policy Committee (MPC) announcement by Reserve Bank of India on May 2nd, 2022 marked a hike in repo rate by 40 basis points and a ‘withdrawal of accommodative stance’. This was followed by a sharp fall in Indian equity indices. The depreciation of rupee that has …

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Paper Number:  WP 17/2022
Publication Year:  May 2022

Demystifying the Role of Cooperatives Banks in Financial Inclusion: Study on Emerging Microfinance Business Model from India

Authors:   Naveen Kumar K, naveen@nibmindia.org
Sarita Bhatnagar

Financial inclusion facilitates households’ access to and use of financial services and thereby improves their socio-economic wellbeing. Several policy attempts are being made in India to reach the financially excluded segments of society through formal institutions. Cooperative banks have played a critical role in the countryside to reach the …

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Paper Number:  WP 16/2022
Publication Year:  May 2022

Basel III Capital Regulation – A Brief Discussion

Authors:   Sanjay Basu, sbasu@nibmindia.org

The comprehensive RBI Master Circular on Basel III Capital Regulations, dated 1st April 2022, retains most of the guidelines covered by the previous Master Circular dated 1st July 2015. It prefers to continue with Basel II-style Standardized Approaches, for all risk categories. However, it includes the Large Exposure Framework …

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Paper Number:  WP 15/2022
Publication Year:  April 2022

Prudential Norms on Capital Adequacy – Primary (Urban) Co-operative Banks (UCBs)

Authors:   Arindam Bandyopadhyay, arindam@nibmindia.org

Ensuring the financial soundness of the Urban Cooperative Banks (UCBs) is crucial for protecting the interests of its depositors and other stakeholders. The capital adequacy ratio is considered an internationally recognized benchmark for measuring bank solvency. This has been popularized by the Basel Committee for Banking Supervision. The regulatory …

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Paper Number:  WP/14/2022
Publication Year:  April 2022

Relationship Banking, Monitoring Costs and Loan Recovery: A Matching Model

Authors:   Sanjay Basu, sbasu@nibmindia.org

Much of the literature on banking focuses on the value of relationship loans to lowquality firms. However, we show that under private information and incomplete contracts, bank-firm matching may be positively assortative. If the costs of monitoring a low quality borrower are higher than the subsequent gain from pairing …

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Paper Number:  WP 13/2022
Publication Year:  April 2022

Digital Disruptions and Transformation of Bank Marketing

Authors:   Sarita Bhatnagar, sarita@nibmindia.org

Banking industry is at the cusp of a disruptive revolution led by the advent of digital technologies. This paper intends to describe the impacts of digital disruption on one specific function, i.e., marketing of banking services. We explore the evolution of technology in banking, transformations from traditional marketing paradigm …

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Paper Number:  WP/12/2022
Publication Year:  February 2022

Recovery Induced Operational Efficiency of Indian Commercial Banks: An Alternative Approach to Accommodate Stressed Assets as Undesirable Byproducts

Authors:   Gargi Sanati, gargi@nibmindia.org

In a comparative framework, we estimate technical efficiency of Indian banks during 2009-10 to 2017-18. We consider advances and recovery of stressed assets as desirable outputs, while NPA and slippage as undesirable byproducts. Our conjecture (from the prior observations) that public sector banks lag way behind the private sector …

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Paper Number:  WP/11/2022
Publication Year:  January 2022

Household Inflationary Expectations and Monetary Policy: Does Gender Matter?

Authors:   Saibal Ghosh
Partha Ray, pray@nibmindia.org

We explore the evolution of inflation expectations of households in response to a change in monetary policy and whether there is a differential impact across gender. Relatedly, we also segregate this behaviour in terms of extensive versus intensive margins and the evolution of such behaviour during periods of key …

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Paper Number:  WP/10/2021
Publication Year:  December 2021

Examining Attitude towards Chatbots: A Survey of Retail Bank Customers in an Emerging Market

Authors:   Prof. Kaushik Mukherjee, kaushikmukerjee@nibmindia.org

This study has been undertaken on the basis of self-determination theory, unified theory of acceptance and use of technology, and the theory of planned behaviour. The study examines the attitude and intention of retail bank customers towards chatbots. The findings show that self-determination/motivation, performance expectancy, social influence, and facilitating …

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