Characteristics of in-out intermittency in delay-coupled FitzHugh-Nagumo oscillators

We analyze a pair of delay-coupled FitzHugh-Nagumo oscillators exhibiting in-out intermittency as a part of the generating mechanism of extreme events. We study in detail the characteristics of in-out intermittency and identify the invariant subsets involved --- a saddle fixed point and a saddle periodic orbit --- neither of which are chaotic as in the previously reported cases of in-out intermittency. Based on the analysis of a periodic attractor possessing in-out dynamics, we can characterize the approach to the invariant synchronization manifold and the spiralling out to the saddle periodic orbit with subsequent ejection from the manifold. Due to the striking similarities, this analysis of in-out dynamics explains also in-out intermittency.Comment: 15 pages, 6 figure

RAROC & EVA :The New Drivers of Business Growth in Indian Banks

Through RAROC and EVA tools, Banks can establish a good risk management culture that can create competitive advantage and improve shareholder valueRAROC; EVA; Integrated Risk Management, Banking

Factors Driving Demand and Default Risk in Residential Housing Loans: Indian Evidence

This paper empirically examines the functional role of various micro and macro economic as well as situational factors that determine residential housing demand and risk of borrower default. Using 13,487 housing loan account sanctioned from 1993-2007) data from Housing Finance Institutions (HFIs) in India, we investigate the crucial factors that drive demand for housing and its correlation with borrower characteristics. Next, we examine housing loan defaults and the major causative factors of the same. Our empirical results suggest that borrower defaults on housing loan payments is mainly driven by change in market value of the property vis-à-vis the loan amount and EMI to income ratio. A 10 percent decrease in the market value of the property vis-à-vis the loan amount raises the odds of default by 1.55 percent. Similarly, a 10 percent increase in EMI to income ratio raises the delinquency chance by 4.50 percent. However, one cannot ignore borrower characteristicslike marital status, employment situation, regional locations, city locations, age profile and house preference which otherwise may inhibit lender to properly assess credit risk in home loan business as our results show that these parameters also act as default triggers.Housing Demand, Risk Management, Financial Institutions and Banks

JT gravity from holographic reduction of 3D asymptotically flat spacetime

We attempt to understand the CFT$_1$ structure underlying (2+1)D gravity in flat spacetime via dimensional reduction. We observe that under superrotation, the hyperbolic (and dS$_2$) slices of flat spacetime transform to asymptotically (A)dS$_2$ slices. We consider a wedge region bounded by two such surfaces as End-of-the-World branes and employ Wedge holography to perform holographic reduction. We show that once we consider fluctuating branes, the localised theory on the branes is Jackiw-Teitelboim (JT) theory. Finally, using the dual description of JT, we derive an 1D Schwarzian theory at the spatial slice of null infinity. In this dual Celestial (nearly) CFT, the superrotation mode of 3D plays the role of the Schwarzian derivative of the boundary time reparametrization mode.Comment: 19 pages, 3 figure