Beyond the headline-grabbing issues, the Indian economy is struggling to solve a critical problem: to restore and maintain financial stability on a durable basis. In his book titled, ‘Quest for Restoring Financial Stability in India’, former Deputy Governor of RBI, Dr. Viral V. Acharya, talks about his quest for restoring financial stability in India and offers a concrete set of steps to be undertaken for sustained improvement.
Dr Acharya shares a feasible action plan to address the recapitalization needs of public sector banks, offering solutions on how to improve credit allocation by credit intermediaries and establish viable efficient capital markets. Elucidating need-of-the-hour reforms, this book also raises several stark and unanswered questions related to the re-emergence of fiscal dominance in India, not just of monetary policy tools but also of banking regulations.
It makes a persuasive case for striking the right balance between the government, the central bank, the private sector, and the markets, in order to improve long-run growth prospects for the real economy and the financial system supporting it.
Mr Ananth Narayan shall engage Dr Viral Acharya in a conversation about the book and other issues.
The title to the Conversation is the title to the first chapter in the book.
The author’s share of proceeds will all go towards Pratham India: Every Child in School & Learning Well for providing education and skilling to under-privileged children and youth in India.
The publishers also offer a special discount as below:
20 + 10%* discount when you order on our website, StealADeal: https://bit.ly/337FOV7
10% discount when you order on Amazon: https://amzn.to/2BGJ1zO
Dr Viral V Acharya, C.V. Starr Professor of Economics in the Dept. of Finance at Stern School of Business (NYU-Stern)
Ananth Narayan , Senior India Analyst, Observatory Group LLC and Associate Professor, SPJIMR.
VIRAL V ACHARYA
Dr Viral V. Acharya is the C.V. Starr Professor of Economics in the Dept. of Finance at Stern School of Business (NYU-Stern). He was appointed as Deputy Governor of Reserve Bank of India (RBI) in 2017. He also served as Director of the National Stock Exchange (NSE), advisory board member of Securities and Exchange Board of India (SEBI), Bombay Stock Exchange (BSE) and Financial Industry Regulation Authority (FINRA).
He has been an Academic Advisor and Research Associate to many organizations/institutes. Dr. Acharya’s primary research interest is the ‘theoretical and empirical analysis of systemic risk of the financial sector’, its regulation and its genesis in government-induced distortions. He is the recipient of many awards for his research papers in various international journals. He also served as editor of the Journal of Financial Intermediation (2009-12) and associate editor of the Journal of Finance (2011-14).
In his book titled, “Quest for Restoring Financial Stability in India” he talks about his quest for restoring financial stability in India and offers a concrete set of steps to be undertaken for sustained improvement.
Ananth Narayan is Senior India Analyst, Observatory Group LLC and Associate Professor, SPJIMR.
Ananth is currently an Additional Director nominated by RBI on the board of Yes Bank, and an Independent Director on the boards of SBI Capital Markets Ltd., Clearcorp Dealing Systems Ltd., CARE Ratings Ltd., Agappe Diagnostics Ltd., & Southern Ridges Funds.
He is a member of SEBI’s Mutual Fund Advisory Committee, FICCI’s Capital markets Committee, IMA’s Banking & Finance Committee, and Kerala Infrastructure Fund Management Ltd.’s Investment Committee.
Ananth has over 24 years of experience in banking and financial markets – with Standard Chartered Bank, Deutsche Bank and Citibank.
Till December 2017, he was MD & Regional Head of Financial Markets, ASEAN & South Asia with Standard Chartered Bank.
Previously, he was SCB’s Head of Financial Markets & Co-Head of Wholesale Banking for South Asia between 2012-15, and Regional Head of FX, Rates & Credit Trading South Asia, between 2009-12.
Prior to Standard Chartered Bank he was with Citibank in Mumbai till 2005 (Director & Head of FICC Trading), and with Deutsche Bank in Mumbai (Managing Director & Head of Global Rates, South Asia – till August 2009)
Ananth served as the Chairman of the board of Standard Chartered Nepal Ltd. between 2016 – 2017. He was Vice Chairman on the board of Fixed Income Money Market and Dealers Association (FIMMDA) and Foreign Exchange Dealers Association of India (FEDAI), between 2012 and 2017. He was also on the board of Central Depository Services Ltd. (CDSL) and Standard Chartered Securities India Ltd. (SCSI) between 2013 and 2017
Ananth has been a part of various RBI and SEBI committees and working groups (including for FX Options, Financial Benchmarks, Funds expense ratios, Fund Inter-scheme transfers, Liquidity risk management of debt funds).
He has a B.Tech (Electrical) from IIT Bombay and a PGDM from IIM Lucknow.
He appears in print and television media for views on macroeconomics and financial markets. He is passionate about diversity, learning, ethics & integrity, people and collaboration.