1. BES163-P4: IMF Reforms 2015-16- Yuan inclusion, Quota review
  2. BES163-P5: WTO-Nairobi Summit, Special Safeguard Mechanism (SSM)
  3. BES165-P6: P2P Lending, KYC Norms on P-Notes, Crisis occurring more frequently

BES163-P4: IMF Reforms 2015-16- Yuan inclusion, Quota review, Directors’ Appointment

  • brief history and outcomes of the Bretton Woods conference in 1944, birth of World Bank and its five sister agencies, International monetary fund, General agreement on tariff and trade. (GATT) and World Trade Organization (WTO)
  • IMF reforms:1) inclusion of yuan in SDR basket of currencies, 2) expanding quota of emerging market economies and 3) appointment of executive directors


Youtube Link: https://youtu.be/j3HuI9sefRw

BES163-P5: WTO-Nairobi Summit, Special Safeguard Mechanism (SSM)


  • chronology of the WTO ministerial conferences in recent years.
  • Update related to trade facilitation agreement (TFA) from Bali summit.
  • WTO Nairobi Package: 1) and elimination of agriculture and cotton export subsidies 2) special Safeguard mechanism-SSM 3) tweaking the DFQF rules for least developed countries (L.D.C), information technology agreement-ITA; ever greening of patents
  • criticism against WTO Nairobi summit.
  • major trade disputes between India and USA at World Trade Organization.
  • Survey observation: Foreign trade is directly proportional to the size of economy and directly proportional to distance
  • classification of trade agreements of number of participants and integration level
  • economic survey’s observation on multiregional trade agreements versus regional trade agreements (MTA); TPP and its impact on India
  • five types of preferential trade agreements (PTA): Partial Scope Agreement, Free Trade Agreement (FTA), Customs Union (CU), Common Market (CM), Economic Union (EU)
  • has India benefited from trade agreements or not? – observations by Economic survey in volume-1 chapter-8: why should India shed-off its “Big but poor” Dilemma to gain maximum benefit from trade agreements?

Youtube Link: https://youtu.be/dsmIP2EuK0U

BES165-P6: P2P Lending, KYC Norms on P-Notes, Crisis occurring more frequently


  • Economic survey has observed that earlier financial crisis in the national economy used to happen with a gap of 10 years, but nowadays such financial crisis occurring more frequently. Therefore, India needs to brace up, strengthen its regulatory regime on banking and finance.
  • Banking sector reforms: steps already taken and steps under process.
  • New updates related to banking sector reforms- SBI consolidation-merger with five associated banks and Bharatiya Mahila Bank (BMB); arguments in favour and against this proposal.
  • Withdrawal of 3 business groups from payment bank license viz. 1) Dilip Shanghvi 2) Cholamandalam and 3) Tech Mahindra.
  • What is peer-to-peer lending (P2P): benefits and pitfalls. RBI draft-guidelines for regulation of P2P lending
  • Budget-2016 provisions to deepen Corporate bond market in India through SEBI and RBI.
  • National Investment and Infrastructure Fund (NIIF)- mechanism
  • SEBI: new KYC norms on P-Notes investment.

Youtube Link: https://youtu.be/HF0S1rV20mE
Next Lecture: 4th Pillar- sector of economy- agriculture “more from less” and Labour reforms.