Bank Cleanups, Capitalization, and Lending: Evidence from India
By Yakshup Chopra, Krishnamurthy Subramanian, Prasanna Tantri
Review of Financial Studies | September 2021
DOI
papers.ssrn.com/sol3/papers.cfm?abstract_id=3683522
Citation
Chopra, Yakshup., Subramanian, Krishnamurthy., Tantri, Prasanna. Bank Cleanups, Capitalization, and Lending: Evidence from India Review of Financial Studies papers.ssrn.com/sol3/papers.cfm?abstract_id=3683522.
Copyright
Review of Financial Studies, 2021
Share:

K. V. Subramanian is a Professor of Finance (currently on leave) at the Indian School of Business (ISB). He has served as an Executive Director at the International Monetary Fund and was the 17th Chief Economic Advisor to the Government of India from 2018 to 2021.

As Chief Economic Advisor, Professor Subramanian conceptualised India’s economic policy during the once-in-a-century COVID-19 pandemic. By correctly identifying COVID-19 as a huge supply-side shock, Professor Subramanian balanced supply- and demand-side measures, transformed fiscal policy to focus on public capital expenditure, and initiated path-breaking reforms to address structural problems. His foresight and vision enabled the Indian economy to emerge with high growth and strong macro fundamentals despite the Ukraine war following the pandemic.

His policy ideas drew on the path-breaking Economic Surveys. He authored Ethical Wealth Creation for a Prosperous India (2019-20), a Strategic Blueprint for India to Become a $5 Trillion Economy (2018-19), and the post-COVID-19 economy using public capital expenditures in infrastructure and healthcare to further counter-cyclical fiscal policy (2020-21). Acknowledging his contributions, the Hon’ble Prime Minister of India, Shri. Narendra Modi, praised his “academic brilliance, unique perspectives on economic and policy matters, and reformatory zeal.”

Professor Subramanian has been conferred the Distinguished Alumnus award by both his alma maters at IIT Kanpur and IIM Calcutta. He holds a PhD from the University of Chicago. His research spanning banking, law and finance, innovation and economic growth, and corporate governance has been published in the world's leading academic journals.

Krishnamurthy Subramanian
Krishnamurthy Subramanian

Prasanna Tantri is an Associate Professor of Finance and the Executive Director of the Centre for Analytical Finance at the Indian School of Business (ISB). He also serves as an Independent Director and Chair of the Audit and Risk Management Committees at Power Finance Corporation. His research interests include banking, macro-finance, financial inclusion, financial contagion, and regulation. He has published his research in top journals such as the Review of Financial Studies, The Journal of Accounting and Economics, The Review of Finance, The Journal of Accounting Research, Management Science, The Journal of Financial And Quantitative Analysis, Journal of Development Economics, and others. 

He is currently heading the group entrusted by the government of Telangana with the task of drafting a vision document for the state of Telangana. He was a part of the Expert Working Group on Investor Protection at the National Stock Exchange and a Member of the Technical Group on the Social Stock Exchange, constituted by the Securities and Exchange Board of India. He was also appointed as a Member of the Technical Advisory Committee for the Evaluation of Schemes for the Promotion of Digital Payments in India, under the Development Monitoring & Evaluation Office (DMEO), NITI Aayog.

Prasanna Tantri
Prasanna Tantri