The CFS aims to become a national knowledge and policy hub focused on the critical themes of banking, insurance, pensions, financial inclusion, and fintech innovation. Aligning with MDI’s mission for excellence, relevance, and social impact, the Centre is envisioned as a driver of change in India’s financial landscape — supporting the country’s journey toward a financially empowered and inclusive Viksit Bharat @2047.

• Conduct rigorous, data-driven research on financial services schemes and delivery mechanisms.
• Serve as a platform for evidence-based policy advocacy and stakeholder engagement.
• Design and deliver capacity-building programmes for government officials, financial professionals, and grassroots institutions.
• Foster academic-industry partnerships and applied knowledge sharing.
• Develop case studies and research tools for teaching and institutional learning.

The following studies have been initiated by the Centre for Financial Services during the year 2025-26 for the Department of Financial Services, Ministry of Finance, Government of India. Teams of MDI Gurgaon faculty members are working upon them.

• The Impact Assessment Study of the Pradhan Mantri MUDRA Yojana (PMMY), commissioned by the Department of Financial Services, Ministry of Finance, will assess the scheme’s outreach, effectiveness, and transformative potential for small entrepreneurs and marginalized borrowers across India.
• The Impact Assessment of the Pradhan Mantri Suryaghar Muft Bijli Yojana (PMSG-MBY) seeks to evaluate the outcomes of decentralized solar power adoption at the household level, with a focus on affordability, access, and sustainability in rural and peri-urban regions.

The details of three other projects funded by Centre for Financial Services are as follows:

• Use of Earth Observation in Real Estate Finance for Mapping Spatial Heterogeneity in Credit Risk and Business Development: A GeoAI Study of Gurugram & Jaipur
• Nudging Financial Capability: Integrating Behavioural Science into India’s Financial Literacy Ecosystem
• Social Comparison and Retail Trading Behaviour: An Experimental Investigation

The Centre for Financial Services is poised to play a catalytic role in reshaping how financial services are understood, evaluated, and delivered in India. By integrating academic insight with field realities and policy priorities, the Centre will:

• Help bridge systemic gaps in access, awareness, and accountability.
• Inform next-generation reforms in credit, insurance, pensions, and fintech innovation.
• Empower policymakers and practitioners with actionable data and grounded analysis.
• Enable inclusive growth by spotlighting the needs and aspirations of marginalised populations.

In doing so, the CFS at MDI Gurgaon will not only support national goals such as financial services landscape, financial literacy, digital inclusion, and economic resilience — but also emerge as a thought leader in South Asia's financial system development.

The governing committee headed by the Director, MDI, Gurgaon consist with the following members:

1. Director, MDI, Gurgaon: Prof. Arvind Sahay
2. Acting Chairperson: Prof. Manoj Anand
3. Co-chairperson: Prof. Veena S Iyer
4. Senior Faculty, MDI: Prof. Avanish Kumar and Prof. Shalini Kalra Sahi
5. Representative from DFS, Ministry of Finance: Ms. M.G. Jayasree, DDG
6. Representative from Bank of India: Shri Rajesh Ingle, Chief General Manager
7. Representative from Canara Bank: Shri K.V. Ramana Murthy, General Manager, HR
8. Centre Manager

Our Team

• Acting Chairperson: Prof. Manoj Anand
• Co-chairperson: Prof. S. Veena Iyer
• Committee members: Prof. Avanish Kumar, Prof. Shalini K. Sahi
• Research Associate: Mr. Ramakanta Naik

For collaborations and research-related queries, write to [email protected]

Address:
E-2, First Floor, Centre for Financial Services,
Management Development Institute (MDI),
Mehrauli Road, Sukhrali, Gurugram - 122007,
Haryana, India