Options are narrowing: Suffer high interest rates for a short period and put the house in order even if it sacrifices economic growth.
Inflation is now under control and we need to revive the economy. The more imminent issue to address is the currency, says Mihir Doshi.
Inflation is at a near-three-year low of 4.86% and economic expansion is crawling but sliding currency is more concerning.
A depreciating currency could be welcomed as a boon for a country suffering from a record high current account deficit.
Economists and traders are back to discussing whether any of the rating companies will change their outlook or downgrade it to junk.
Three days after the Reserve Bank of India roiled the bond market with an interest rate increase to prevent the Rupee’s slide, the currency is almost where it was before the shock. If the exchange rate is the gauge, what Governor Duvvuri Subbarao fired is a squirt gun, and not a bazooka.
A weaker currency is a national tariff. After we get a weaker currency, we have to take advantage of that.
There is a transformation which is happening in the Indian banking scene where state-run companies dominate three-fourths of the market.
The rupee is the worst-performing Asian currency as foreign funds pulled out $5.4 billion from Indian debt in June.
26 companies like L&T Finance, Shriram Capital have applied for new bank licence, but will RBI dilute norms?
Suryamani Financing, a firm promoted by Pawan Ruia, who ran Dunlop India aground and INMACS Management Services, a lesser-known auditing firm from New Delhi, are taking chances.
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