Assessing Machine Learning Techniques for Predicting Banking Crises in India

Round 1

Reviewer 1 Report

Comments and Suggestions for Authors

I appreciate this article as very interesting and I congratulate the authors including for the research topic addressed.

Regarding the foray into the current state of knowledge, I appreciate the effort made by the authors in this regard, this aspect being easy to identify both through the highlights made in the body of the article proposal and through the mentioned final bibliography.

The practical application part is also successful, the authors developing an appropriate quantitative model for the in-depth research topic for which they also issued the related conclusions.

Finally, taking into account the above, I recommend the admission for publication of this article proposal.

Author Response

Dear Reviewer -1

We would like to thank you for your erudite comments for manuscript number jrfm-2911430. We have revised the manuscript considering the comments.

We have made the following changes:

• Following your suggestion that the methods and results be adequately described.  We have reworked upon these sections accordingly making them stronger. The updated parts in these sections have been highlighted in yellow for your convenience.
• We have included a subsection in the results detailing the policy implications from this study.
• Please note that the highlighted parts may contain changes recommended by other reviewers as well.

Hopefully the updated manuscript adequately fulfills your recommendations.

- Thota Nagaraju

Reviewer 2 Report

Comments and Suggestions for Authors

Please find a file attached.

Comments for author File: Comments.pdf

Comments on the Quality of English Language

Minor editing required.

Author Response

Dear Reviewer -2

We would like to thank you for your erudite comments for manuscript number jrfm-2911430. We have revised the manuscript considering the comments.

We have made the following changes:

• Following your suggestion, we have updated the introduction and conclusion sections. Now, they provide clear motivation, novelty, effectiveness and the contribution of the manuscript. The parts with updates are highlighted in yellow. 
• The methodology used to select the EWIs and to construct BFI has been explained better now in the data and methodology section.
• The discussion on evaluation metrics has been included in the subsection of performance metrics within data and methodology.
• To discuss how the insights can help decision making, we have included a subsection in the results section, detailing the policy implications from this study.
• We have expanded the discussion about the AI-ML models not providing direct causative link. Additionally, we have highlighted the usefulness of the current framework in improving or optimising the existing econometric models, by incorporating variables with high information content. 
• Please note that the highlighted parts may contain changes recommended by other reviewers as well.

Hopefully the updated manuscript adequately fulfills your recommendations.

- Thota Nagaraju

Reviewer 3 Report

Comments and Suggestions for Authors

The purpose of the paper is to anticipate potential banking crises in India by leveraging a spectrum of machine learning and artificial intelligence techniques, based on data from 2002 to 2023.

The contributions of the paper needs to be better highlighted.

Please discuss the utility and practical implications of your research. Can we extend the results for other emerging economies?

Comments on the Quality of English Language

English style is fine, minor revision needed. 

Author Response

Dear Reviewer -3

We would like to thank you for your erudite comments for manuscript number jrfm-2911430. We have revised the manuscript considering the comments.

We have made the following changes:

• Following your suggestion, we have highlighted the contributions, utility, and practical implications of our research. We have also included a subsection in the results detailing the policy implications from this study.
• We have also updated the introduction, methods, and results sections, by bringing in relevant literature, and strengthening the narrative. The parts with updates are highlighted in yellow.
• Please note that the highlighted parts may contain changes recommended by other reviewers as well.

Hopefully the updated manuscript adequately fulfills your recommendations.

- Thota Nagaraju