In this world where we live today, the primary threat of conflict has shifted from territorial borders to the digital ledgers of central banks and the invisible corridors of global finance. The author, Urjit Patel, who is currently serving as the Executive Director of the International Monetary Fund and a former Reserve Bank of India Governor, provides a clinical autopsy of this transformation. Illustration by The Geostrata While his earlier work, Overdraft, focused on the in

India has one of the world’s largest foreign exchange reserve stockpiles as of January 2026, with an average of around $723.8 billion . This level of adequacy placed India in a relatively secure position compared to other emerging markets. Despite such large reserves, due to their utilisation, reserve levels were still relatively robust in mid-March 2026, about $709.76 billion , despite the extent of intervention by the RBI itself. Illustration by The Geostrata Here, the RB

For the record 9th time , the Finance Minister Nirmala Sitharaman prepares to present the Union Budget for 2026-27 on 1st February 2026. This exercise has more significance than a routine fiscal update. As India emerges as one of the world’s fastest-growing economies , it faces a blend of domestic challenges, opportunities and global risks. Illustration by The Geostrata Slowing global demand, trade fragmentation, U.S. tariff pressures and weakening investor sentiments call fo

Investment is a small but highly volatile component of a nation’s gross domestic product. As domestic belief in the future of a country’s growth feeds more into investments than corporate necessity, most fluctuations in terms of investment, particularly business fixed investment, or private capital expenditure, can be traced back to demand-side catalysts. Illustration by The Geostrata THE THEORETICAL FOUNDATIONS Investment is not merely an autonomous activity, but is under

In India’s financial pulse, Non-Banking Financial Companies (NBFCs) — Micro Finance Institutions (MFIs) are key factors for development. NBFCs are entities that provide similar services to banks but do not hold a banking license, for instance, engaged in the business of loans and advances, acquisition of shares/debenture/securities, leasing, hire-purchase, insurance, and more. Illustration by The Geostrata It has emerged as a vast source of financing for individuals as well a

One of the reasons India’s democracy remains strong is because of the balanced sharing of powers and duties between various levels of...

With the introduction of the Goods and Services Tax (GST), India underwent a major indirect tax reform, making it a historic step. In...

“A shift in politics can make the market sway, changing fortunes from day to day.” Often when we think of the stock market, the first...

The GST Council, the Finance Commission, and the Ministry of Finance are the three pillars of fiscal governance of the Indian economy....

India’s 2025 budget came at a critical juncture, as the government was navigating the dual challenge of sustaining economic growth while...

Israel has often been dubbed the ‘startup nation’ in two different connotations. Its entrepreneurial community boasts of some of the...

Nowadays, an increasing number of people are becoming fond of independent contract-based and freelance work, and this marks the departure...

The Amazon rainforest is critical to global climate regulation and is still under threat despite recent advancements in President Luiz...

Today, new businesses form the backbone of the modern economy, which is essential to boost growth and provide employment...

In every culture, corruption is a true monster that impedes progress and fosters inequity. However, the relationship between corruption...

Today, banks have enhanced the security of transactions, especially commercial sales and digital contracts, in the fight against threats...

The oldest relations in the Latin American region go back to the 19th century when groups of individuals arrived in Panama for the...

Economic development and the economic policies that help nations achieve it are an integral part of modern statecraft. The...

An electric vehicle (EV) can be commonly defined as a vehicle powered by an electric motor that draws electricity from a battery and is...

India responded to the climate change policy by first formulating a National Action Plan on Climate Change ( NAPCC ) in July 2008 and...