NSE RI

The National Stock Exchange of India (NSE) has always aimed at remaining at the forefront of support to financial research in India. The NSE Research Initiative was the very first research support program instituted by the NSE. During the period 2000-11, over 110 papers across diverse topics in Finance were published. The goal of NSE-RI was to support/encourage research in areas of interest to securities market, with the broad objective of expanding research capabilities and knowledge and facilitating policy advocacy.

Continuing our endeavor to be at the forefront of financial research in India, the NSE Research Initiative 2.0 (NSE-RI 2.0) has been relaunched with an expanded scope, format and support, in terms of monetary as well as data/compute. It is an initiative whereby NSE would encourage and support research in the broad area of financial markets via monetary grants on a continuing basis. It also serves as a platform for researchers to get guidance/feedback from experienced subject matter experts, thereby playing a crucial role in building a research community and network in the area of finance. NSE-RI 2.0 should also over time build significant knowledge and insights which would help in market development and policy formulation.

Under this initiative, we invite individuals from academia including think tanks and research institutions to submit research proposals in the broad areas of finance and economics, some of which are listed below.

• Capital markets (Equity, Derivatives, Fixed Income, among others)
• Capital market regulations
• Market design and market microstructure
• High frequency/algorithmic trading
• Market efficiency
• International Financial Service Centres
• Collective Investment Vehicles
• Corporate Finance
• Financial Risk Management
• Behavioural Finance
• Banking and Financial Services
• Corporate Governance/ESG
• Economy
• Financial Economics

Research proposals can be categorised into two types based on the research topic, and analytical complexity:  short-term (Duration of up to five months, with maximum one month extension) and long-term (Duration of up to 10 months, with maximum extension of two months), entailing grant amount of Rs 1 lakh and Rs 2 lakh respectively. Only fresh and original research ideas in broad areas specified above, with no prior grants/monetary support, will be eligible for the grant.

The proposal should be upto two (short-term projects) to four (long-term projects) pages long and must briefly include an introduction & research objectives/motivation, brief literature review, data requirements, methodology, gaps & research contribution and policy relevance/implications.

Alongside the proposal, researchers will be required to submit the following additional documents:

• Institute credentials (Bona fide certificate from the Institute) of all the co-authors
• Personal academic credentials of all the co-authors
• Updated CVs of all the authors
• An undertaking on the research idea being fresh and original

The research proposal and documents are required to be sent via email to nseri@nse.co.in.

The proposal can be submitted throughout the year; however, it would be reviewed in a quarterly cycle by a committee of internal and external stakeholders.

Funding will be provided in two stages: 10% upon acceptance of the research proposal, and the remaining 90% upon reviewer approval of the final submission.