Archives: Event

Roundtable Discussion: Translating Research on Women’s Economic Empowerment into Policy: Progress and Prospects 

On 30th January 2025, the National Data Innovation Centre (NDIC) at NCAER collaborated with The Quantum Hub (TQH) to organize a roundtable discussion titled “Translating Research on Women’s Economic Empowerment into Policy: Progress and Prospects”, held at the NCAER campus in Delhi The event explored how policymaking can be driven by evidence and how research can be made relevant to policy. Over thirty intellectuals from research, academia, development, and policy sectors lent their voices to the discussion, contributing data, insights, and experiences and thus eliciting a myriad of pathways to answering a complex two-fold question. The event featured a keynote speech by Dr. Sonalde Desai, special remarks by Dr. Devaki Jain, and two moderated sessions led by Dr. Pallavi Choudhuri and Ms. Aparajita Bharti respectively.

Ms. Bharti delivered the introductory remarks highlighting the relevance, application, and impact of contemporary research on women’s economic power in India.  Dr Sonalde Desai traced the historical interactions between social science research and policy in India, urging scholars to collaborate and integrate feminist perspectives into decision-making. Dr Desai highlighted critical emerging areas, including the changing nature of work, the dynamics of platform and gig work, and evolving family structures in India.   In her special remarks, Padma Bhushan Ms. Jain highlighted the need to recognize women’s economic contributions, stressing collective efforts for meaningful change. Ms. Jain shared the journey of feminist economics research in India, drawing from her extensive experience with the Planning Commission and the South Commission.

The session on “Evolving Research Landscape on Women’s Economic Empowerment”, moderated by Dr. Choudhuri, examined the role of data in policymaking, particularly in recognizing unpaid family work and expanding definitions of labor.  The session on “Pathways to Translating Research into Action”, moderated by Ms. Bharti, explored strategies for integrating research into policy interventions. Speakers emphasized the importance of women’s education, progressive curriculum reforms, and collaboration at all levels.

The roundtable discussion provided valuable insights into the complex relationship between research and policymaking on women’s economic empowerment in India. The event underscored the need for evidence-driven policies and greater recognition of women’s economic contributions. Key discussions underscored the need for fair compensation, data-driven policy linkages, and cross-sector collaboration. The discussions emphasized that a collective, unified approach is essential for translating research into impactful policy interventions that can drive real, systemic change for women in the workforce.

Addressing Gender Based Violence in India

NCAER, in collaboration with the World Bank, organised a roundtable discussion on “Addressing Gender Based Violence in India” at its campus on the 5th of December, 2024.

The event began with an opening address by Soumya Kapoor Mehta from the World Bank, who highlighted the alarmingly high prevalence of gender-based violence (GBV) in India despite significant policy initiatives. This was followed by three insightful presentations. The first presentation by Geetika Hora from the World Bank explored gender-based violence in Kerala. The second by Mansi Shah from SEWA examined how structural violence in informal work environments contributes to GBV. The last presentation by Navya Srivastava from NCAER analysed the drivers of intimate partner violence (IPV) across India and established a link between women’s formal employment and their risk of IPV.

The subsequent discussions, moderated by Dr Ratna Sahay from NCAER, delved into policy solutions aimed at addressing both individual determinants and the broader economic and cultural factors that perpetuate GBV. Key policy recommendations included improving gender attitudes among both men and women through gender-sensitivity training integrated into primary and secondary education, holding men accountable for acts of violence, increasing women’s participation in the formal labour force, and strengthening institutional quality, accessibility, and accountability.

The discussions also highlighted the impact of GBV on children, emphasising the need to include children in prevention strategies. Additionally, significant attention was given to the rising prevalence of GBV in online spaces, underscoring the need to enhance women’s safety both online and offline.

Digitalisation of Financial Education: A Modern Approach to Investor Protection and Capital Market Development

The workshop featured a panel discussion with distinguished experts across the financial sector, including Dr. C.S. Mohapatra, IEPF Chair Professor at NCAER; Mr. Shashi Kumar V., Executive Director, SEBI, Mr. Sashi Krishnan, Director, National Institute of Securities Market & Former CEO, NPS Trust, Mr. Navneet Munot, Chairman, Association of Mutual Funds in India and MD & CEO, HDFC AMC Ltd., Ms. Kamala Kantharaj, Capital Market Expert & Chief Regulatory Officer, BSE India Ltd., and Mr. Bharat Panchal, Cyber Security Expert & Former Chief of Risk Management, NPCI.

They shared valuable insights on digital financial education’s pivotal role in empowering investors and ensuring capital market development. Their discussions highlighted how digital platforms enable accessible and effective financial education, supporting investors in making informed decisions while safeguarding against digital fraud. The panel emphasized that robust regulatory frameworks and secure digital systems are essential to enhance investor confidence and drive inclusivity in India’s capital markets. This dialogue reinforced digital financial literacy as a powerful tool to equip investors for informed participation and self-protection in a digitalized economy.

The workshop was inaugurated by Mr. Sundararaman Ramamurthy, CEO & Managing Director of BSE India Ltd., who emphasized the transformative potential of digitalization in making financial education more accessible and impactful for investors across all demographics. He underlined the BSE’s commitment to fostering financial awareness, enhancing market efficiency, and building investor confidence through innovative digital platforms. He landed the collaborative effort of conducting Investor Awareness Workshop with BSE.

In her Keynote Address Ms. Anita Shah Akella, CEO and Joint Secretary of IEPFA highlighted the pivotal role of digital tools in transforming financial education, emphasizing the need to equip investors with the knowledge to protect their interests in an increasingly complex market. She addressed the challenges of the digital landscape and discussed how innovative approaches can strengthen investor protection while fostering the development of capital markets. Furthermore, Ms. Akella reiterated the Government’s commitment to promoting financial literacy and empowering individuals to make informed decisions, urging collaborative efforts between government bodies, financial institutions, and educational organizations to drive investor education and financial inclusion. Her address inspired participants to explore digital solutions for enhancing financial literacy and developing sustainable investment strategies.

The main highlight of the event was the panel discussion moderated by Dr. C.S. Mohapatra, IEPF Chair Professor at NCAER, who served as the moderator for the session. Dr. Mohapatra provided valuable insights into the evolving challenges of investor protection, particularly in the digital age. He discussed the essential role that regulatory frameworks and educational initiatives play in concept and process learning also mitigating financial risks, emphasizing collaborative commitment to promoting financial security for all citizens. In his opening remarks, Dr. Mohapatra explained how digital tools have the potential to transform traditional methods of financial education, fostering more inclusive and comprehensive investor protection mechanisms. He highlighted that digital financial education democratizes access to information, enabling a broader spectrum of investors to make well-informed financial decisions and better navigate the complexities of today’s digitalized financial landscape. 

Mr. Shashi Kumar V., Executive Director at SEBI, shared insights from his extensive experience in overseeing market regulation, policy, and risk frameworks. He delineated the initiatives taken by SEBI on digitalizing financial education and discussed the need for robust regulatory measures to support the rapid digitalization of financial education. He emphasized, SEBI’s role in integrating digital safety and transparency into investor education initiatives.

Shri Sashi Krishnan, Director NISM, highlighted the increased shift towards digitalization of financial and investor education, where informed decision-making is crucial. He outlined the current activities of NISM and the role digitalization is playing in capacity building for the securities market ecosystem and in certification. He urged stakeholders to leverage digital platforms to provide targeted financial guidance to investors, with the objective of supporting them in long-term financial planning.

Mr. Navneet Munot, Chairman of AMFI and Managing Director & CEO of HDFC AMC Ltd., being fully appreciative of the workshop effort, spoke on the significance of mutual fund education and the role of digital outreach in expanding investor base while enhancing investor knowledge. He emphasized that digitalization not only streamlines financial access but also supports diversified and secure investment opportunities that align with long-term wealth creation.

Mr. Bharat Panchal, a leading expert in cybersecurity and former Chief of Risk Management at the National Payments Corporation of India (NPCI), now serves as the Chief Risk Officer at Bima Sugam, underscored the essential role of cybersecurity in the digitalization process. He averted on potential risks associated with the digital shift, emphasizing the need for stringent cybersecurity frameworks to protect investors from online fraud. He explained about the digitalisation programs of the Government and highlighted how secure digital platforms are fundamental to advancing investor trust and financial empowerment.

Ms. Kamala Kantharaj, Chief Regulatory Officer at BSE, spoke on the importance of digital innovation in strengthening market infrastructure and regulatory frameworks. She highlighted BSE’s initiatives in integrating digital channels to enhance investor protection and stressed on the importance of regulatory foresight to address challenges arising from digitalization.

This workshop marks a continued effort by IEPFA, NCAER, and BSE to promote financial literacy, empower investors, and support capital market development through modern, digitalized approach’s to financial education and empowerment.

About IEPFA

The Investor Education and Protection Fund Authority (IEPFA) was set up on September 7, 2016, under the aegis of the Ministry of Corporate Affairs, Government of India, for administering the Investor Education and Protection Fund for making refunds of shares, unclaimed dividends, and matured deposits/debentures, among other things, to investors.

About NCAER

NCAER is India’s oldest and largest independent economic think tank, set up in 1956 to inform policy choices for both the public and private sectors. It is one of a few independent think tanks world-wide that combines rigorous economic analysis and policy outreach with deep data collection capabilities, particularly for large-scale household surveys. NCAER is led by its Director General, Dr Poonam Gupta, the institution’s first woman head, who assumed office on 1 July 2021, and it is governed by an independent Governing Body currently chaired by Mr. Nandan M. Nilekani.

IEPF Chair Unit at NCAER

 The Investor Education and Protection Fund Authority (IEPFA), Ministry of Corporate Affairs, Government of India established an IEPF Chair on Regulation and a Programme of Economic & Regulatory Research at NCAER on Indian Investor Education, Awareness & Protection, in March 2020 with the objective of pursuing research that will help improve investor education and protection in India, and ultimately the investment climate.

The objective of IEPF Chair is to work in the broad areas of economics and regulation considering the broad objective of the IEPFA. The activities of the IEPF Chair unit include measures to assess and improve the efforts and outcomes of investor education and protection in India. In this process, we aim to develop a larger community of academicians, researchers and practitioners to create a knowledge repository both quantitative and qualitative which can form foundation for evidence-based policy actions. As the Chair Unit embarked on its fifth year of the work programme, the Unit hopes to contribute in a larger measure in 2024-25 and in future years. Dr C.S. Mohapatra is the current IEPF Chair Professor at NCAER since July 2023.

BOMBAY STOCK EXCHANGE (BSE), MUMBAI

The Bombay Stock Exchange (BSE), established in 1875, is Asia’s oldest stock exchange and a cornerstone of India’s financial markets. Known for its commitment to transparency, efficiency, and investor protection, BSE has consistently driven innovation in financial trading and market infrastructure. Today, it is one of the world’s fastest stock exchanges, with a median trade speed of 6 microseconds, supporting a diverse range of products including equities, derivatives, debt instruments, currencies, and mutual funds.

BSE has been at the forefront of digital transformation, pioneering efforts in automation, risk management, and investor education. Through platforms like BSE StAR MF, India’s largest mutual fund distribution platform, and BSE Ebix, a joint venture for insurance distribution, it has expanded access to financial products across urban and rural areas. Additionally, BSE’s initiatives in financial literacy and inclusivity, including collaborations with educational institutions, aim to empower investors by providing them with the knowledge and tools needed to make informed investment decisions.

Regulated by the Securities and Exchange Board of India (SEBI), BSE upholds stringent standards of governance and compliance, making it a trusted institution in the global financial ecosystem. Its commitment to sustainable finance and corporate social responsibility underscores its role not only as a financial marketplace but also as a catalyst for economic growth and investor protection in India.

Press Coverage:

PTI: IEPFA, NCAER and BSE jointly organised a workshop on the revolutionizing impact of digital technology on financial sector

The Statesman: IEPFA organises workshop on digitalisation of Financial Education at BSE

Taxmanagementindia.com: IEPFA, NCAER and BSE jointly organised a workshop on the revolutionizing impact of digital technology on financial sector

Financeoutlookindia.com: IEPFA Holds a Workshop on Digitizing Financial Education at BSE

Prameyanews.com: IEPFA, NCAER & BSE organise digital technology workshop on financial sector

Alayaran.com: Digital Revolution Hits Financial Sector as IEPFA, NCAER and BSE Organise Workshop

Does teachers’ caste identity affect students’ mental health? Evidence from Bihar, India

NCAER hosted a seminar titled “Does Teachers’ Caste Identity Affect Students’ Mental Health? Evidence from Bihar, India,” presented by Dr Ritwik Banerjee (Associate Professor, IIM Bangalore) and discussed by Dr Sandip Datta (Assistant Professor, DSE), as part of its Dialogue Room Seminar Series, chaired by Dr Bornali Bhandari, moderated by Dr Jyoti Thakur, and organised by Dr Souryabrata Mohapatra on Monday, 2 December 2024, at 3:00 PM on campus.

Presenter: Dr. Ritwik Banerjee, Associate Professor, IIM Bangalore 1

Discussant: Dr. Sandip Datta, Assistant Professor, DSE 2

Chair: Dr. Bornali Bhandari, Professor, NCAER3

 Abstract:

Social identity-based prejudice has a debilitating effect on various life outcomes. While social science literature primarily focuses on the economic and social consequences, the mental health effects of such biases are vastly under-studied. We investigate this issue in the context of caste discrimination in Bihar, India, using a large-scale, detailed, representative survey of public schools. We find that a backward caste student has a 0.42σ higher depression score and is 19 percentage points more likely to be categorised as ‘depressed’ relative to a forward caste student when taught by a forward caste teacher. As a potential mechanism, we show that forward-caste teachers systematically underestimate the learning levels of backward-caste students relative to forward-caste ones. This constitutes an objective measure of teachers’ caste-based prejudice. Further, when taught by forward caste teachers, backward caste students exhibit considerably lower levels of educational aspirations relative to their forward caste counterparts.

Keywords: Caste bias; Mental health; Depression; Aspiration; Education; Bihar

Short bios:

1 Ritwik Banerjee is an Associate Professor of Economics at IIM Bangalore. His primary research area is at the intersection between behavioural and developmental economics, and he extensively uses experimental methods in his research. Some topics he has investigated or is presently investigating are corruption, inequality, education and discrimination. His research has been published in peer-reviewed journals such as Games and Economic Behavior, Journal of Public Economics and European Economic Review. Prior to his current assignment, Ritwik worked as a doctoral research fellow at Aarhus University, Denmark, with an independent grant from the Social Science Research Council of Denmark. He was an Academic Visitor at the Research Department of Federal Reserve, Chicago during the summer of 2012, a Visiting Scholar at the Economics Department, Harvard University, in Spring 2015, Visiting Scholar at UNU WIDER, Helsinki in Spring 2019, Fulbright-Nehru Academic and Professional Excellence Fellow, University of Berkeley in Fall 2019, and Humboldt Fellow, Goettingen University, 2022-25. He has also served as a Consultant at the World Bank in Washington DC and as a Research Associate at ICRIER, New Delhi. For more information on his research, please visit https://www.ritwikbanerjee.in/.

2 Sandip Datta is an Assistant Professor at the Delhi School of Economics. He earned his PhD from IIT Delhi in 2018, and his research spans education, health, labour and politics. He has published in esteemed journals like the World Bank Economic Review and Oxford Development Studies. Sandip is also an active peer reviewer for prominent journals, including the Journal of Development Studies, Economic Modelling, WBER, etc. His diverse academic achievements highlight his significant contributions to the field of social economics. For more details, please visit http://econdse.org/sandip-datta/.

 

3 Bornali Bhandari is a Full Professor at NCAER with a background in international economics and macroeconomics, specifically focusing on the impact of globalisation on development. Currently, she is engaged in a number of industry studies, including automobiles, farm mechanisation and digitisation. Her wider research interests include analysis of skilling from a 3-E perspective (education, employability and employment), e-Governance, infrastructure, particularly the roads and ICT sectors, G-20 issues like climate change financing and reserve currency, FDI and trade-related issues. She also oversees the production of the NCAER Quarterly Business Expectations Surveys. Bornali has received her doctorate degree from the University of Oregon, USA. For more information, please visit https://www.ncaer.org/people/bornali-bhandari.

Global Shifts: Emerging Markets, India & Global Finance

In the latest episode of NCAER podcast series, Visiting Professor Udaibir Das strikes a conversation with Martin Wolf, Chief Economics Commentator of Financial Times, to elicit his views on a wide range of issues, ranging from emerging markets and the rising “Global South” to international policy-making as well as his reflections on India on the back of his three-and-a half-decade-long engagement with the country.

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