Economy

Bancassurance is an agreement between banks and insurance companies to sell insurance products to bank customers. An insurance company develops a product line for bank customers as part of their collaboration, which is then distributed through bank branches, a hotline, or internet banking platforms. Though the insurance density had progressed significantly since its inception in 2000, the insurance penetration remained low even after two decades of liberalisation in the insurance sector.

Debt, Trust, and Reputation: Extra-legal Finance in Northern India by Sebastian Schwecke, Cambridge: Cambridge University Press, 2022; pp 372, price not stated (hardcover).

Vol VIII, No 1 JANUARY 6, 1973

The Sri Lankan peoples’ calls for change cannot be set aside with quick economic fixes.

This study examines both the short- and long-run impact of public debt on the economic growth of Uttar Pradesh during the post-reform period of 30 years by employing the vector error correction model. The empirical analysis revealed that the increase in public debt-to-gross state domestic product ratio and interest payments burden would have an adverse impact on the long-run economic growth of UP, while having no significant impact on the short-run growth. It is also notable that the effective interest rate has negatively correlated with the gross capital formation in UP, and the latter has shown significant positive long-run association with the economic growth. In order to attract investments and economic growth, the state Government of UP should continue a countercyclical fiscal stance that would help in adhering to fiscal sustainability rules by smoothing out the repercussions of the COVID-19 pandemic.