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NSE-NYU Conference on Indian Financial Markets 2020


Keynote speakers


Prof. Michael Kremer

Prof. Michael Kremer
2019 Nobel Laureate and University Professor in Economics and Public Policy, University of Chicago


Michael Kremer is an American development economist and University Professor in economics and public policy at University of Chicago. In 2019, he was jointly awarded the Nobel Memorial Prize in Economics, together with Esther Duflo and Abhijit Banerjee, for their experimental approach to alleviating global poverty. Their work focused on relatively small and specific problems that contributed to poverty and identified the best solutions through carefully designed field experiments conducted in several low- and middle-income countries over more than two decades. He is the founding director of the Development Innovation Lab at the Becker Friedman Institute for Economics and non-resident fellow at Center for Global Development. He also served as the Gates Professor of Developing Societies at Harvard University until 2020. He was the Associate Editor for Journal of Development Economics and Quarterly Journal of Economics and member of Board of Editors for American Economic Journal. He has won several awards and recognitions for his work in development economics.

Prof. Nouriel Roubini

Prof. Nouriel Roubini
Professor of Economics and International Business, NYU Stern School of Business


Nouriel Roubini is a Professor of Economics and International Business at New York University Stern School of Business. He is also the cofounder and chairman of Roubini Global Economics, an independent, global macroeconomic and market strategy research firm. Professor Roubini has extensive policy experience in addition to his broad academic credentials. He served as the senior economist for international affairs on the White House Council of Economic Advisors and then the senior advisor to the undersecretary for international affairs at the U.S. Treasury Department from 1998 to 2000, helping to resolve the Asian and global financial crises, among other issues. He has worked with the IMF, World Bank and numerous other prominent institutions as a consultant. Professor Roubini has published over 70 theoretical, empirical and policy papers on international macroeconomic issues and coauthored several books. His research interests include international macroeconomics and finance, fiscal policy, political economy, growth theory and European monetary issues.

Panel speakers


Prof. Viral Acharya

Prof. Viral Acharya
Ex-Deputy Governor, Reserve Bank of India and C. V. Starr Professor of Economics, NYU Stern School of Business


Viral Acharya is the Former Deputy Governor of the Reserve Bank of India and C. V. Starr Professor of Economics at NYU Stern School of Business. Professor Acharya started the NSE-NYU Stern Initiative on the Study of Indian Financial Markets along with the National Stock Exchange of India (NSE) in 2012. He has served on the International Advisory Board of the Securities and Exchange Board of India (SEBI). He has also been an Academic Advisor to the Federal Reserve Banks of Chicago and Cleveland, and the Board of Governors. He is Research Associate of the National Bureau of Economic Research (NBER) in Corporate Finance, a Research Affiliate at the Center for Economic Policy Research (CEPR), and Research Associate of the European Corporate Governance Institute (ECGI). He has authored several books on finance and banking.

Dr. Ryan Banerjee

Dr. Ryan Banerjee
Senior Economist, Bank of International Settlements


Ryan Banerjee is the Senior Economist at the Bank of International Settlements (BIS). Prior to joining the BIS in 2012, Dr. Banerjee was a senior economist at the Bank of England, where he worked in the Monetary Analysis Directorate on the quantitative easing programme, the Financial Stability Directorate on liquidity regulation and as an economist in the External Monetary Policy Committee Unit. His research interests include business cycles and growth, fiscal policy and financial institutions and microprudential issues (including banking supervision)

Prof. Tarun Ramadorai

Prof. Tarun Ramadorai
Professor of Financial Economics, Imperial College London


Tarun Ramadorai is the Professor of Financial Economics at Imperial College London. He was the Chairman of Inter-Regulatory Committee on Household Finance constituted by the Reserve Bank of India, Visiting Scholar at the Economic Advisory Council to the Prime Minister of India, and Economic Adviser to the European Securities and Markets Authority. Prof. Ramadorai is currently on the Norges Bank Investment Management Allocation Advisory Board, and a member of the UK-India Financial Partnership. He also serves as an Editor of the Review of Financial Studies. His research interests include household finance, asset pricing, international finance, and real estate with a focus on India.

Prof. Ananth Narayan

Prof. Ananth Narayan
Professor, S. P. Jain Institute of Management and Research


Ananth Narayan is an international banking and financial markets expert. Currently he is the Associate Professor – Finance at S.P. Jain Institute of Management & Research. Before joining S.P. Jain in 2018, he has served several senior positions in his 24-year career in banking and financial markets. He was the Standard Chartered Bank's Regional Head of Financial Markets for ASEAN and South Asia, managing foreign currency, interest rates, commodities, derivatives and debt capital markets businesses. Prior to Standard Chartered, he worked in Deutsche Bank and Citibank, also in financial markets sales and trading. He was the Vice Chairman of FIMMDA and FEDAI, and served on the boards of CDSL, SCSI and SCB Nepal Ltd. He has been part of several working groups and committees of the RBI.

Prof. Kose John

Prof. Kose John
Charles William Gerstenberg Professor of Banking and Finance at the Stern School of Business, New York University


Prof. Kose John has been a visiting professor at the University of Chicago, Columbia University, Temple University, and Institut d’Etudes Politiques de Paris (Sciences Po). He has won several awards, including the Batterymarch Fellowship in 1983 and the Jensen Prize for the best paper published in 2000 in the Journal of Financial Economics. He has been on the Nomination Committee for the Nobel Prize in Economics since 2016. His recent research interests include FinTech, Blockchain economics, corporate bankruptcy, dividend policy, corporate governance, top-management compensation, institutions and innovation. He has published over 110 research articles. He has mentored 106 doctoral students.

Events From To
Introduction by Dr. Tirthankar Patnaik, Chief Economist, NSE 18:00 18:05
Welcome address by Mr. Vikram Limaye, MD & CEO, NSE 18:05 18:15
Welcome address by Prof. Kose John, NYU Stern School of Business 18:15 18:25
Supported paper 1 presentation: The Effect of Conflict on Lending: Evidence from Indian Border Areas by Mrinal Mishra and Prof. Steven Ongena, University of Zurich 18:25 18:45
Discussion by Prof. Arkodipta Sarkar, University of Science and Technology 18:45 18:55
Q&A session 18:55 19:10
Break 19:10 19:15
Supported paper 2 presentation: Financial Literacy of Women in India and the Development of its Capital Markets by Prof. Dennis Philip, Prof. Anurag Banerjee and Kamlesh Kumar, Durham University Business School and Prof. Iftekhar Hasan, Fordham University 19:15 19:35
Discussion by Prof. Gonul Colak, Hanken University 19:35 19:45
Q&A session 19:45 20:00
Break 20:00 20:05
First keynote speech by 2019 Nobel Laureate for Economics Prof. Michael Kremer, The University of Chicago (30 mins speech + 10 mins Q&A)
Topic: Investing in Innovation for Development
20:05 20:45
Closing remarks 20:45 20:50
Events From To
Introductory remarks 18:00 18:05
Panel discussion on The roadmap to a vibrant corporate bond market
Prof. Viral Acharya, Ex-Deputy Governor, RBI and Professor, NYU Stern School of Business
Dr. Ryan Banerjee, Senior Economist, Bank of International Settlements
Prof. Tarun Ramodarai, Imperial College London
Prof. Ananth Narayan, S. P. Jain Institute of Management and Research (Moderator)
18:05 18:50
Q&A session 18:50 19:05
Break 19:05 19:10
Supported paper 3 presentation: Do Government Guarantees Help Financial Stability? Evidence from an Emerging Market by Prof. Madhu Kalimipalli, Wilfrid Laurier University, Prof. Vijay Marisetty, University of Hyderabad and Prof. R. L, Shankar, Case Western Reserve University 19:10 19:30
Discussion by Prof. Sanjiv Das, Santa Clara University 19:30 19:40
Q&A session 19:40 19:55
Break 19:55 20:00
Supported paper 4 presentation: Portfolio Inventory Risk of Liquidity Providers: Frictions and Market Fragility by Prof. Pradeep Yadav, University of Oklahoma, Prof. Roman Kozhan, University of Warwick and Prof. Vikas Raman, Lancaster University 20:00 20:20
Discussion by Prof. Venkataraman Kumar, Southern Methodist University 20:20 20:30
Q&A session 20:30 20:45
Closing remarks 20:45 20:50
Events From To
Introductory remarks 18:00 18:05
Supported Paper 5 Presentation: Saving Speculative Markets from the Speculators by Prof. Rama Seth, Copenhagen Business School, Denmark & IIM Calcutta, Prof. Vladimir Gatchev, Prof. Ajai Singh, University of Central Florida and Prof. Vishwanath S R, Shiv Nadar University 18:05 18:25
Discussion by Prof. Jay Ritter, University of Florida 18:25 18:35
Q&A session 18:35 18:50
Break 18:50 18:55
Supported Paper 6 Presentation: What Explains Geographic Variation in Corporate Investment?: A Tale of Colonial Hangover by Nishant Vats and Shohini Kundu, University of Chicago 18:55 19:15
Discussion by Prof. Francesco D’Acunto, Boston College 19:15 19:25
Q&A session 19:25 19:40
Break 19:40 19:45
Second keynote speech by Prof. Nouriel Roubini, NYU Stern School of Business (30 mins speech + 10 mins Q&A)
Topic: The 2020 Covid-19 Crisis and the 2021 Global Economic Outlook
19:45 20:25
Closing remarks 20:25 20:30
Updated on: 16/12/2021