Misra Centre for Financial Markets and Economy (MCFME)

Financial Markets play an important role in the Indian economy. Study and analysis of Financial Markets require high quality data, research, and insights to engage in the debate and influence policy makers, institutions, and other stakeholders. In this context, "Misra Centre for Financial Markets and Economy", set up at IIMA, is a Centre of excellence, conducting research on the Financial Markets and Economy in India. This Centre is expected to provide impetus for focused research and teaching related to financial markets within the overall economic framework. The vision of the Centre is to bring together the infrastructure that would allow the IIMA faculty to have access to the similar technologies and other resources that the market participants have; though not necessarily at the same level or scale.


The Centre will support the following four pillars of excellence -

  1. Applied Research - Undertake practical and executable research on Financial Markets and Economy (in Indian context with global markets as the reference/benchmark) that would address issues related to formulation of policy, market structure/regulations including central banks' mandate, monetary policy, fiscal developments, microstructure including commodities, banking, bond markets, SME Financing, financial inclusion, insurance, etc. This is to facilitate wider scope for research by Faculty and the Doctoral students working at the intersection of finance and economics. Centre may procure global financial data available with other agencies.
  2. Knowledge - Build quality data, analytics, and insightful knowledge on the Indian Financial Markets and Economy.
  3. Engagement – Engage with relevant stakeholders who influence policies as well as those who are significantly affected by policies
  4. Training – Develop business case studies for the current and future industry leaders (students)



The activities of the Centre shall consist of:

  1. Research – The Centre will produce high quality research.
  2. Disseminate research – Will widely disseminate research reports/findings to policy makers, media, analysts, other key stake holders including academics through a variety of channels viz. media outreach, participation in conferences, roundtable discussions, authored articles, etc.
  3. Engagement – engage with government and policy makers about the new developments in the Financial Systems including the impact of the Economy/Financial Markets turbulence & changes among India's major trading partners. The Centre may invite visitors (Faculty, PhD students, Fellows/Scholars) from Universities in India and abroad to come to IIMA Centre for collaborative research and publishing papers in the reputed journals.
  4. Development – Develop case studies on Financial Markets and Economy.
  5. Other collaborations – Build relationships with other leading management institutions for collaborative research on Financial Markets and Economy
  6. An annual Financial Markets and Economy report - This report will be expected to become the invaluable source of information about Indian Financial Markets and Economy. The Centre will enjoy total academic freedom in the authorship of this report that is aligned with the overall vision and objectives for which the Centre is being established.
  7. Debates/Workshops/Seminars: Centre is expected to organize regularly the debates/workshops/ seminars with media participation on the key issues facing the Economy and the Financial Markets


1.1. Publication and dissemination of data, research

Centre and the Faculty belonging to the Centre shall publish research in quality national and international journals, peer reviewed journals and others and will deliver talks and offer seminars.


Advisory Board

Prof. Raghuram Rajan

University of Chicago Booth School of Business

Prof. Manju Puri

Duke University, Fuqua School of Business

Prof. Maitreesh Ghatak

London School of Economics

Mr. Neelkanth Mishra

Credit Suisse

Dr. Prachi Mishra

Goldman Sachs



Governing Committee

a. Director: Prof. Errol D'Souza

b. Chairperson: Prof. Abhiman Das

c. Faculty representatives from IIMA: Prof. Ajay Pandey

d. A representative of the donor: Mr. Peeyush Misra


Members of the Centre

1. Prof. Anindya S. Chakrabarti

2. Prof. Abhiman Das, Chairperson

3. Prof. Naman Desai

4. Prof. Joshy Jacob

5. Prof. Sanket Mohapatra

6. Prof. Ajay Pandey

Staging Enabled