Archives: Event

Empowering Investors: Financial Literacy and Inclusivity in the Digitalized world

In the age of rising incidence of cyber fraud, it is critical to equip individuals, especially young investors, with awareness programmes on the knowledge and skills to protect themselves from such crimes, experts said at a joint workshop here on Saturday.

The IEPFA-NCAER workshop conducted in collaboration with the School of Management of Financial Institutions (SoMFI), Management Development Institute (MDI) Gurgaon witnessed an interactive group of over 680 management students. The workshop brought together prominent experts from various sectors including financial sector specialist, former banking regulator, capital market and commercial banking. The focus was on equipping the youth with necessary skills and knowledge to navigate through the complexities of the modern financial landscape.

In his inaugural address, Prof Arvind Sahay, Director, MDI Gurgaon, stressed on such initiatives to enhance the financial education among youth. Prof Sahay lauded the first ever collaborative effort between IEPFA, NCAER, and MDI, as he emphasized the value of such partnerships in driving impactful educational programmes to empower young investors.

Ms. Anita Shah Akella, CEO of IEPFA and Joint Secretary in the Ministry Corporate Affairs, in her message, conveyed that investor education and protection is on the national agenda and highlighted IEPFA’s efforts in creating a more informed, protected, and empowered community of investors. Through her message, she encouraged the students to actively participate, engage with IEPFA initiatives and take this opportunity to enhance their understanding and promote advocacy of investor rights and education. Ms Akella called for involvement of the youth in driving the progress IEPFA aims to achieve in safeguarding the interests of investors across the nation.

In her welcome address, Prof. Leena A. Kaushal, Faculty-in-charge, SoMFI, MDI Gurgaon, stated that real-world knowledge and skills are crucial for every youth. Dr CS Mohapatra, IEPF Chair Professor at NCAER, stressed on the critical need for financial planning, understanding the risks and opportunities of investing, as also the elements of being a responsible investor. While hailing the increasing pace of digitalization, he called for strict vigilance in an era marked by information overload and unsolicited financial advice.   He cited the investor protection measures that government and regulators had put in place, including the Online Dispute Resolution Portal (ODR) of SEBI, UDGAM Portal of RBI for unclaimed deposits, the DPDP ACT to protect data privacy and the activities of IEPFA on recovery of unclaimed shares, dividends, matured deposits/debentures to investors.

Dr Mohapatra stressed on sustained and synergized investor education efforts at a heightened level with modernised curriculum that adequately addresses the up-to-date protection systems in place including the fraud prevention measures taken by regulators and government. Updated investor knowledge, sustained confidence and trust in the financial markets on the one hand and expanding the retail investor base with a broad-based approach with an inclusive strategy will go a long way in moving fast towards a Viksit Bharat, he stated.

The panel discussion featured Gaurav Kapoor, VP and Region Head at the National Stock Exchange of India; Shailendra Nath Jha, Former DGM and Deputy Ombudsman at RBI; and Ms. Shifali Jain, Senior VP & Group Head of Institutional Business at Axis Bank. They explored financial education, digital advancements, and investor protection. Gaurav Kapoor emphasized that financial literacy is essential for empowering investors in the rapidly evolving digital world, and stressed the importance of developing sound financial habits early. Ms. Shifali Jain discussed how digital payment infrastructure has enhanced financial inclusivity and highlighted the need to bridge the gender gap in financial literacy. Shailendra Nath Jha pointed out that cyber frauds can be reduced through better digital hygiene and awareness of fraud tactics.

This workshop stands as a beacon of proactive education, poised to transform young minds into prudent, knowledgeable, and confident future investors. Such workshops foster a generation of informed and cautious investors, that paves the way for a society that values financial security and intelligent investment.

The conundrum of Porter Hypothesis: Evidence from the Indian manufacturing sector

NCAER hosted an online lecture titled “The conundrum of Porter Hypothesis, Pollution Haven Hypothesis, and Pollution Halo Hypothesis: evidence from the Indian manufacturing sector” presented by Dr. Prantik Bagchi (Assistant Professor at IIT Kharagpur) and discussed by Dr. Shyamasree Dasgupta (Associate Professor at IIT Mandi), as part of its Virtual Dialogue Room Webinar Series moderated by Dr. Chetana Chaudhuri and chaired by Dr. Souryabrata Mohapatra on Wednesday, 10 July 2024, at 4:00 pm IST.

 Abstract:

In the globalised world, factors such as environmental regulations and outcomes are interlinked with foreign direct investment and technological innovation. However, firm-level theories mostly treat them independently. We have filled the gap by carrying out empirical research with an integrated approach at the firm level. The theoretical framework is based on Porter’s hypothesis and the pollution haven hypothesis/pollution halo hypothesis. We collect the data from the Center for Monitoring Indian Economy Prowess IQ and the Ministry of Environment, Forest, and Climate Change. Using the modified Krugman specialisation index, we find that Indian manufacturing firms are neither converging nor specialised in terms of technical progress. Estimating a z-score for environmental stringency, we interact that with the pollution loads of the firms. Our findings suggest that environmental regulation does not ensure a “win-win” situation for the producers, refuting Porter’s hypothesis. Rather, factors such as profit margin and R&D produce robust results across different models to induce the productivity of the firm. One of the concerning facts is that older firms using vintage capital are detrimental to productivity enhancement, and there is evidence of layoffs at the cost of increasing profits to improve the firm’s performance. Also, more dependence on materials by export-intensive firms increases the cost and, thereby, reduces productivity. In addition, we apply a panel threshold regression model and conclude that there is evidence of a single threshold, and irrespective of the choice of technology, foreign firms induce the energy intensity, confirming a pollution Haven hypothesis.

For information, see: https://doi.org/10.1007/s10098-024-02886-z

Speaker notes:

  • “Allowing cleaner technology for foreign direct investment is a must, besides ensuring social security. An incentivised green scheme reflecting the valuation of the firm’s product may help.” – says Dr Prantik Bagchi
  • “It is high time that ‘environment’ is strictly and formally considered as an input in the production process and fiscal instruments are designed to reflect the price of this input.” – says Dr Shyamasree Dasgupta

Short bios:

1 Dr. Bagchi is currently working as an Assistant Professor in the Department of Humanities and Social Sciences at IIT Kharagpur. His prior work experiences include IIM Shillong and Madras School of Economics. He completed his PhD from IIT Madras and was a recipient of the Post-Doctoral Equivalent Fellowship for submitting the Thesis in three years and getting the best reviews. His area of interest lies in Natural Resources and Environmental Economics, Energy Economics, and Applied Microeconometrics. He has published papers in several journals, including Annals of Operations Research (ABDC A), Technological Forecasting and Social Change (ABDC A), Journal of Cleaner Production (ABDC A), and many other reputed journals. He has reviewed articles in different Journals, viz. Studies in Microeconomics, Journal of Quantitative Economics, Journal of Safety Science and Resilience, and Transactions on Consumer Electronics (IEEE). He is working as an Associate Editor in SN Business and Economics. His works are featured in IITM TechTalk, The Hindu Business Line, The Times of India, The Telegraph, Press Information Bureau (Chennai), and others. His students received Best Paper Awards in many conferences, such as the 3rd Annual Economic Summit, St. Xavier’s University Kolkata, and the International Humanities and Social Sciences Student Colloquium at BITS Pilani, Dubai (IHSSRC).

2 Dr. Dasgupta is an Associate Professor and Chair in the School of Humanities and Social Sciences at IIT Mandi. She is an economist by training. Her teaching and research interests remain in the areas of energy, environment, and climate change. She earned her BS in Economics from Calcutta University and her MA from Delhi School of Economics.  She obtained PhD from Jadavpur University, Kolkata. She was visiting researchers at Utrecht School of Economics, Netherlands; Joint Global Change Research Institute at Pacific Northwest National Laboratory, USA; and the University of Stavanger, Norway. She has several publications in reputed peer-reviewed journals, namely, Energy Economics (ABDC A*), Energy Policy (ABDC A), Natural Hazards, etc. She has been a member of the Working Group constituted by the Department of Science and Technology, Government of India, related to the Himalayan Ecosystem for preparation of India’s Adaptation Communication to UNFCCC and a Contributing Author in Working Group III to IPCC AR5.

How do households living in arsenic-contaminated regions value safe drinking water?

NCAER hosted an online lecture titled “How do households living in arsenic-contaminated regions value safe drinking water?” presented by Dr. Diptimayee Nayak (Associate Professor at IIT Roorkee) and discussed by Dr. Papia Raj (Associate Professor at IIT Patna), as part of its Virtual Dialogue Room Webinar Series moderated by Dr. Reshma Roshania and chaired by Dr. Souryabrata Mohapatra on Friday, 28 June 2024, at 4:00 pm IST.

Abstract:

Access to safe drinking water is a critical concern, particularly in areas affected by arsenic contamination. The report of the Ministry of Jal Shakti, Government of India (2021), reveals that about 24 habitations from five districts of Bihar are affected by arsenic groundwater contamination, impacting about 71,946 population and their health and economic conditions. In this context, the objectives of the present study are to estimate the mean willingness to pay (WTP) for arsenic-free drinking water and determine factors that impact households’ WTP for arsenic-free drinking water in Bihar. The primary data was collected from 300 households following simple random sampling, and villages were selected through a multi-stage sampling method. The study uses a single-bound dichotomous choice method for WTP elicitation and applies a probit model to determine factors affecting households’ WTP for arsenic-free safe drinking water. The mean WTP is estimated to be ₹ 216.68 per household/month, and results find that education, income, health expenditure, awareness level and high-risk exposure to arsenic are the most influential determinants of households’ WTP for arsenic-free drinking water. Hence, the study suggests appropriate interventions by the policymakers in the arsenic-contaminated areas in Bihar.
For more details see :https://doi.org/10.1016/j.gsd.2024.101189

Speaker notes:

  • “The government must prioritise providing safe drinking water, organise regular health camps and raise community awareness about the risks of arsenic contamination and safe water sources.” – says Dr. Diptimayee Nayak
  • “Health education would be instrumental in motivating communities to develop a positive attitude towards WTP for arsenic-free drinking water, reducing the burden on the public healthcare system in India.” – says Dr. Papia Raj
  • “Communities value safe water. Building awareness on arsenic risk along with ensuring safe water for all is key”– says Dr. Reshma Roshania

Short Bios:

1 Diptimayee is an Associate Professor of Economics at the Department of Humanities and Social Sciences at IIT Roorkee. Her research and teaching span the broad areas of environmental economics and public policy. She earned her doctorate from IIT Delhi and has contributed to the scientific academia by publishing several articles in reputed international journals related to non-market environmental valuations of forest and national park ecosystems, groundwater management, and institutional mechanisms like participatory management for ensuring the sustainability of different ecosystems. Moreover, she has undertaken policy-oriented projects that aid in decision-making for the National Green Tribunal (Ministry of Environment, Forest and Climate Change) and the National Mission for Clean Ganga (Department of Water Resources, River Development and Ganga Rejuvenation). She has been involved in program evaluation and other important national projects such as Arth Ganga, the Ramganga river ecosystem services, sand mining in the Subarnarekha river, forest fire studies in Uttarakhand and Madhya Pradesh, and the PM Ujjawala Yojana. She is currently the core instructor of a successful NPTEL course (ID 109107171) on introductory environmental economics.

2 Papia Raj is an Associate Professor in the Department of Humanities and Social Sciences at IIT Patna. She is a public health expert specialising in social determinants of health. She was the recipient of the Canadian Commonwealth Scholarship and completed her doctorate from McGill University (Montreal). She was a postdoctoral fellow in the School of Population and Public Health at the University of British Columbia (Vancouver). She has received research funding from various national and international organisations, including the Indian Council for Social Science Research (ICSSR), the National Commission for Women (NCW), the National Institute of Educational Planning and Administration (NIEPA), the Canadian Institutes of Health Research (CIHR), and Social Sciences and Humanities Research Council Grant (SSHRC, Canada). Dr. Papia has also been a consultant to various international projects. She serves on the editorial board for various journals, including Sage Open (SAGE), Lancet, Frontiers in Public Health, Waste Management and Research (SAGE), Canadian Journal of Public Health, etc. She has been working on health and development issues in Bihar since 2001 and has extensively published her research findings in both national and international journals of great repute and also in leading newspapers, including the Times of India. She has also recently co-authored a book with her spouse and faculty colleague, Dr. Aditya Raj, titled “Discard Studies in India: A Case of Patna.”

India’s experience with the adoption of climate-smart agriculture practices

NCAER hosted an online lecture titled “India’s Experience with the Adoption of Climate-Smart Agriculture Practices,” presented by Dr Chandra Sekhar1 Bahinipati1 (Associate Professor at IIT Tirupati), and discussed by Dr Anamika Barua2 (Professor at IIT Guwahati), as part of its Virtual Dialogue Room Seminar Series chaired by Dr Souryabrata Mohapatra on Friday, 14 Jun 2024, at 4:00 pm IST.

Abstract:
Previous empirical studies infer the adoption of climate-smart agriculture (CSA) practices by farmers in India, but we are still lacking in mapping the CSA measures as well as the determinants of adopting CSA options across the states. Such assessments have policy relevance in the context of designing national and/or state-specific agricultural policies to scale up the adoption of CSA mechanisms. Hence, the objective is to show the evidence of the adoption of CSA options and their determinants on the basis of systematic literature reviews, NSSO’s situation assessment survey of agricultural households in 2013 and 2019, and independent farm household level surveys conducted in various states in India. In doing so, this identifies the gaps in CSA adaptation research in India and will provide avenues for scholarly communities to expand the domains of future research.

Speaker Quotes:

  • “It advocates the requirement of a nationally representative sample for farmers to understand the adoption of CSA practices in India; for instance, NSSO can include additional modules in the farmers’ situation assessment survey.”—says Assoc Prof Chandra Sekhar Bahinipati
  • “CSA remains a technocratic approach that overlooks farmer diversity in caste, class, and gender. For CSA to be successful, it must become more inclusive, acknowledging the varied abilities of farmers to adopt these practices within different social contexts and power dynamics.”—says Prof Anamika Barua

Short bios:
1 At present, I am working as an Associate Professor at the Department of Humanities and Social Sciences, IIT Tirupati (India). Over the years, I have been working on research areas related to the economics of climate change, environmental economics, behavioural economics, natural resource management and development economics. I have published several research papers in peer-reviewed journals like Environmental Development, World Water Policy, Nature Climate Change, Climate Risk Management, Scientific Reports, Ecology, Economy and Society, Food Security, Land Use Policy, International Journal of Disaster Risk Reduction, International Journal of the Commons, Climate and Development, etc. These studies received financial support from various national and international agencies such as ICSSR, SANDEE, OECD, APN-GCR, IGES, JSPS, etc. At present, I have been involved in two Indo-Dutch research projects related to water-related disasters supported by the Department of Science and Technology (DST) of the Indian Government and the Dutch Research Council (NOW). I am also involved in the DST Center for Policy Research on Energy Transition and Tribal Education, NISER Bhubaneswar (India). I have already served as an EC member on INSEE during 2022-24 and also nominated again for 2024-26.

2 Anamika Barua is a Full Professor at the Department of Humanities and Social Sciences, IIT Guwahati (India) and a Visiting Faculty at AIT (Thailand). With a background in ecological economics, her research explores the complex interplay of political, social, and economic factors in environmental decision-making, focusing on water resources. Her academic interests span climate change and adaptation, the economics of water, ecological footprints, virtual water flows through trade and water governance, including transboundary water governance. Prof. Barua has made significant contributions to academia with numerous publications in peer-reviewed journals such as the Journal of Regional Environmental Change, the Journal of Cleaner Production, Water Resources Research, the Journal of Hydrology, the Water WIREs, etc. Additionally, she serves on several high-level committees for the Indian Government, including the Technical Advisory Committee for India’s climate communication to UNFCCC and the Department of Science and Technology’s Climate Change Program. In 2020, she played a key role in the drafting committee for India’s water policy under the Ministry of Jal Shakti.

Towards a sustainable future: Preventing marine plastics and advancing circular economy

NCAER hosted an online lecture titled “Towards a sustainable future: Preventing marine plastics and advancing circular economy,” presented by Dr Joyashree Roy1 (Professor at AIT Thailand), Dr Ekbordin Winijkul2 (Associate Professor at AIT Thailand) and Dr Tanujjal Bora3 (Associate Professor at AIT Thailand), and discussed by in-house faculty Dr Sanjib Pohit and Dr Chetana Chaudhuri, as part of its Virtual Dialogue Room Seminar Series chaired by Dr Souryabrata Mohapatra on Friday, 29 May 2024, at 4:00 pm IST.

Abstract:

This event showcased the collaborative efforts and applied research undertaken within pioneering undertakings: (1) PISCES: Explored the project’s innovative framing in addressing marine plastic pollution; (2) Polyurethane Foam Upcycling: Sharing the catalytic approach employed in upcycling foam waste, particularly from mattresses, and the sustainable solutions proposed by the project; and (3) Marine Plastics Abatement: Highlighted insights into the comprehensive strategies devised by the program to mitigate the impact of marine plastics through cross-disciplinary collaboration and stakeholder engagement. During the event, our distinguished panellists underlined the transdisciplinary research, mutual learning and knowledge co-production processes inherent in these initiatives. By fostering a collaborative learning environment, we aim to accelerate innovation and co-create sustainable solutions that address challenges across the entire waste lifecycle.

Speaker Quote:

  • “Design science-based economic instruments for finance mobilization, infrastructure, maintenance, awareness, and policy incentives for plastic waste handling.” – Prof Joyashree Roy
  • “Prioritize upcycling over recycling for energy efficiency, resource savings, and reduced reliance on virgin materials. Foster technological and social innovations.” – Dr Tanujjal Bora
  • “Implement capacity-building programs, integrating communities, industry, and academia. Allocate resources for innovative recycling, circular economy models, and behavior change strategies.” – Dr Ekbordin Winijkul
  • “Promote bioplastics and biodegradable substitutes through policy interventions like tax/subsidy instruments.” – Prof Sanjib Pohit
  • “With a coastline of more than 7000 km and rising use of plastic in everyday life, India needs to emphasize on marine plastic pollution abatement programs and legislations; and needs to explore innovative research solutions and business models.” – Dr Chetana Chaudhuri

Bios:

1 Joyashree Roy is currently the Distinguished Professor and Founder Director of the Centre on South and South-East Asia Multidisciplinary Applied Research Network on Transforming Societies of Global South (SMARTS) and the Inaugural Bangabandhu Chair Professor at the Asian Institute of Technology (Thailand). She is also the Honorary Professor at the Centre for Disaster and Research at IIT Guwahati (India). She is the Founding advisor of the two multi-year projects at Jadavpur University: The Global Change Programme and the SYLFF-JU program. She is a former Professor of Economics at Jadavpur University (India). She is listed among the world’s top 2% of influential scientists in the Energy field as per rankings published by Stanford University in 2023. She is a national fellow of the Indian Council of Social Sciences Research (ICSSR). She received the 2021 Paradigm Award from The Breakthrough Institute (USA). She was in the IPCC 2007 Nobel Peace Prize-winning panel and Coordinating Lead Author in the Fourth, Fifth and Sixth assessment cycles of WGIII of IPCC. IPCC is also the co-sharer of the Gulbenkian Prize 2022. She has been a chapter author of Global Energy Assessment and is associated with the Stern Review Report and many other global and national subnational reports. She is on the winning team for the 2012 Prince Sultan Bin Aziz Creativity Award for water. She has published over 175 peer-reviewed journal articles and authored and edited books. She is on the Steering/advisory committee of several national and international science-policy interactive platforms and the editorial boards of many international journals. Her research interests are resource and environmental economics, the economics of pollution and climate change, modelling industrial and other sectoral energy demand, economy-wide modelling exercises for deriving policy implications, water quality demand modelling, water-energy-carbon pricing, sustainable development, natural resource accounting, valuing environmental services, developmental and environmental issues relevant for informal sectors, coastal ecosystem service valuation. She features in the documentary Juice: How Electricity Explains the World, which explains how developing countries are trying to bring people out of the dark and to the lights and transform lives.

2 Ekbordin Winijkul is the Head of the Department of Energy, Environment and Climate Change (EECC) and an Associate Professor in the Environmental Engineering and Management program at the Asian Institute of Technology. He got his Ph.D. in Environmental Engineering in 2015 from the University of Illinois at Urbana-Champaign (USA). His research interests are emission inventory, air pollution modelling and monitoring, air quality management, and environmental technology and management. Before joining AIT, Ekbordin was a project coordinator for the World Bank project to reduce air pollution emissions from diesel vehicles in Bangkok. He also worked at Argonne National Laboratory (USA), International Institute for Applied System Analysis (Austria) and Atmospheric and Environmental Research Inc. (USA), focusing on emission inventory development of multiple anthropogenic combustion sources. His research focuses on near real-time air pollution emission inventory development, modelling of impacts of air pollution policies, cost-benefit analysis of air quality control technologies, airborne microplastics and air quality modelling and monitoring using remote sensing data.

3 Tanujjal Bora is the Director of the Center of Excellence in Nanotechnology (CoEN) and an Associate Professor in the Bio-Nano Material Science and Engineering program in the Department of Industrial Systems Engineering at the Asian Institute of Technology (Thailand). His research primarily focuses on nanomaterial-based solutions for energy harvesting, detection and environmental remediations. His other research interests include nanostructured thin film coatings for industrial applications, nano- and biosensors for environmental and health monitoring, nanocomposite materials, optoelectronic devices and green technology development. In 2022, he joined TriNANO Technologies Pvt. Ltd. (India) as a Research Director that provides Nano Coatings for Solar Panels for better power output & reduces O&M costs, hence advancing the performance ratio. He is also a founding member of two research centres at the Asian Institute of Technology, namely “WellTech Center” working in the area of Health & Well-being and “The Centre for South and South-East Asia Multidisciplinary Research Network on Transforming Societies of Global South (SMARTS).” He has 10+ years of experience in teaching and research supervision, and his research is mainly funded by industries from the region, Government funding agencies and international organizations.

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