Open Access Open Access  Restricted Access Subscription Access
Open Access Open Access Open Access  Restricted Access Restricted Access Subscription Access

Data Gaps in Selected Segments of Financial and Related Sectors in India


Affiliations
1 Gokhale Institute of Politics and Economics, Pune 411004, Maharashtra, India
     

   Subscribe/Renew Journal


This brief paper aims at providing an overview of the data gaps existing in the selected segments of the financial sector in India. In financial sector, the data gaps leading to asymmetric information create market inefficiencies. Hence, the open access data has positive externalities and it should be treated as a public good and should be freely accessible. The study emphasises that with technological advancement and big data analytics, the constraints on data warehousing are minimized. However, the data gaps still prevail, because of the ignorance about the usefulness of the data and also because of the reluctance of the data holders to share the data. A large portion of existing data gaps can be bridged merely with a planned, systematic and responsible data management by the public agencies and regulators. To remove the overlaps, fragmentation, inconsistency, and gaps in the data, the study recommends the creation of an all-India single point data bank consisting of a repository of master data and a Metadata directory of entire financial and economic data from all the sectors and layers of the economy.
Subscription Login to verify subscription
User
Notifications
Font Size

  • Allianz, A.G., GTZ and UNDP Public Private Partnership (2006), Microinsurance Demand and Market Prospects India.
  • Borio, C. (2013). The Great Financial Crisis: Setting Priorities for New Statistics, Journal of Banking Regulation, 14(3-4): 306-317.
  • Cecchetti, S, I. Fender, P. Mcguire (2010), Toward a Global Risk Map, BIS Working Papers, No. 309.
  • Department of Statistics and Information Management, RBI (2014), Report of the Committee on Data and Information Management in the Reserve Bank of India.
  • Heath, R. (2013). Why are the G-20 Data Gaps Initiative and the SDDS Plus Relevant for Financial Stability Analysis?, Journal of International Commerce, Economics and Policy, 4(03): 1350018.
  • International Labour Organization (2009), Report by Micro Insurance Centre, Micro Insurance Inventory.
  • International Monetary Fund and the Financial Supervision Board Secretariat (2013), The Financial Crisis and Information Gaps, Fourth Progress Report on the Implementation of the G-20 Data Gaps Initiative.
  • Ministry of Statistics and Programme Implementation, GOI, Financial and External Sector Statistics.
  • Murphy, G. and R. Westwood (2010), Data Gaps in the UK Financial Sector: Some Lessons Learned from the Recent Crisis, Initiatives to address data gaps revealed by the financial crisis, Basel Conference Paper.
  • Oliveira, J., L.L. Rodrigues and R. Craig (2011), Risk-related Disclosure Practices in the Annual Reports of Portuguese Credit Institutions: An Exploratory Study, Journal of Banking Regulation, 12(2): 100-118.
  • Pozsar, Z., T. Adrian, A. Ashcraft and H. Boesky (2010), Shadow Banking, FRBNY Staff Report No. 458.
  • Stiehm, S. (2014), FESAC Measurement of The Financial Sector, OFR’s Approach to Data Gaps: A Case Study on Bilateral Repo Office of Financial Research.

Abstract Views: 106

PDF Views: 0




  • Data Gaps in Selected Segments of Financial and Related Sectors in India

Abstract Views: 106  |  PDF Views: 0

Authors

Lalitagauri Kulkarni
Gokhale Institute of Politics and Economics, Pune 411004, Maharashtra, India

Abstract


This brief paper aims at providing an overview of the data gaps existing in the selected segments of the financial sector in India. In financial sector, the data gaps leading to asymmetric information create market inefficiencies. Hence, the open access data has positive externalities and it should be treated as a public good and should be freely accessible. The study emphasises that with technological advancement and big data analytics, the constraints on data warehousing are minimized. However, the data gaps still prevail, because of the ignorance about the usefulness of the data and also because of the reluctance of the data holders to share the data. A large portion of existing data gaps can be bridged merely with a planned, systematic and responsible data management by the public agencies and regulators. To remove the overlaps, fragmentation, inconsistency, and gaps in the data, the study recommends the creation of an all-India single point data bank consisting of a repository of master data and a Metadata directory of entire financial and economic data from all the sectors and layers of the economy.

References





DOI: https://doi.org/10.21648/arthavij%2F2016%2Fv58%2Fi3%2F147615