Dr. Sougata Ray is working as an Assistant Professor in Finance and Economics at the International Management Institute, Bhubaneswar, Odisha–751003, India. He holds a PhD in Management from the School of Business, Amrita Vishwa Vidhyapeetham, Coimbatore, and was also the recipient of the Erasmus Mundus Doctoral Fellowship for 2013–2015. His research areas cover Microfinance and Financial Markets. He has published his research ideas in multiple conference proceedings and journals.