Qualification: B.Sc., PGDM ( ASB) , M. A. ( Econ, Annamalai University), Ph. D. 

Dr. Sougata Ray is currently working with the Department of Management as an Associate Professor in the area of Finance. He has a rich experience of more than 18 years in Academics & Industry. He did his Bachelors in Economics from Calcutta University and Masters in Economics from Annamalai University. He is also a Management graduate from Amrita Vishwa Vidyapeetham and holds Doctorate in Management from Amrita School of Business, Amrita Vishwa Vidyapeetham. His Doctoral thesis looks into the issues of over-indebtedness in the microfinance sector in India. He is also the recipient of the Erasmus Mundus Scholarship by European Union for Doctoral Research at University of Porto, Porto, Portugal for the period 2013-2015. Before joining academics, Dr. Ray has spent around 8 years working in various organizations such as Peerless Securities Ltd, Apeejay Securities Ltd, and IL&FS Investmart Securities Ltd.

Teaching portfolio of Dr. Sougata Ray consists of courses such as Financial Management, Portfolio Management and Financial Derivatives & Risk Management. His current research interests include development finance and empirical finance. He has presented and published his research work in national and international conferences and referred journals.


Publication Type: Journal Article

Year of Publication Title


Sougata Ray, Dr. Sushanta Kumar Mahapatra, and Shyam Nath, “Over-indebtedness and its drivers among microfinance borrowers in India”, Economic and Political Weekly (ABDC - B Category), vol. 54, no. 7, pp. 47-54, 2019.[Abstract]

In microfinance markets worldwide, over-indebtedness among borrowers and households has emerged as an important concern. Over-indebtedness, measured in terms of sacrifices made by households, is high in both rural and urban India. Factors statistically significant in explaining over-indebtedness are the borrower’s age and financial literacy; the household’s entrepreneurial activity, income level, and spatial location; and the proportion of dependent members in a household.

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