Mudit Kapoor is an Associate Professor of Economics at the Indian Statistical Institute (ISI) in New Delhi, India. Professor Mudit Kapoor’s recent publications include “From microfinance to m-Finance” with Jonathan Morduch (Professor at NYU) and Shamika Ravi (Professor at ISB) in Innovations (an MIT press journal). Professor Kapoor is presently working on indigenous financial institution – the Chit Fund industry in India. This is a joint work with Professor Antoinette Schoar (Sloan School, MIT) that examines the role of chit funds as financial service providers to Micro/Small enterprises. His research on chit funds is supported by a USD 1.7 million grant from The Bill and Melinda Gates foundation. He is also working with Professor Shamika Ravi to study the consumption and savings behaviour of low-income households. His most recent working paper is Elasticity of Intertemporal Substitution in Consumption: Empirical Evidence from a Natural Experiment.