Basis View

Basis View is the House View of BasisPoint’s in-house columnists.

What Else Is the Rupee Defending?

RBI’s FX Moves

India’s GDP ambitions carry a political timetable. Rupee depreciation adds to the risk of pushing that timetable back.

Basis View

October 14, 2026 at 11:30 AM IST

iStock.com

What Is the RBI Hiking For?

MPC Preview

RBI looks set to hike. The real question is whether it is catching up with markets or committing to a sustained fight to restore inflation to 4%.

Basis View

October 2, 2026 at 5:13 AM IST

Poonam Gupta/LinkedIn

The GDP Debate India Should Welcome and Sustain

The argument over India’s growth numbers is healthy because it has shifted attention from identity politics to jobs, investment and policy.

Basis View

September 4, 2026 at 6:05 AM IST

iStcoks/mgstudyo

Warsh’s Quiet Fed Shifts Uncertainty to Markets

Jackson Hole made the case for greater Fed discretion. The price is a less visible reaction function and more uncertainty for markets.

Basis View

September 1, 2026 at 3:20 AM IST

Via WikiCommons

India’s $73 Billion Forex Buffer is Insurance, Not Triumph

Concessional swaps can buy valuable protection, but dressing liability-funded reserves as proof of economic strength risks eroding credibility.

Basis View

August 25, 2026 at 7:36 AM IST

Finance Ministry

CEA Nageswaran Is Tempering His Obligatory Optimism

By questioning ethanol, AI, private capex, market exuberance, and external resilience, V Anantha Nageswaran is restoring constructive doubt to policy.

Basis View

August 18, 2026 at 1:39 PM IST

RBI Should Close the Door on Easing with a Stance Change

Monetary Policy

The August policy need not deliver a hike. It should deliver recognition that India should not meet a harder monetary world with an easing bias left ajar.

Basis View

August 3, 2026 at 3:59 AM IST

The Market Is Pricing the RBI, Not Inflation

June CPI rose, yet rate-hike calls faded. The market is pricing the RBI’s growth bias—not inflation—and echoing the central bank back to itself.

Basis View

July 15, 2026 at 5:30 AM IST

istock.com

Mind the New Numbers

India is changing how it measures growth and prices. Bond and currency markets should pay attention

Basis View

July 13, 2026 at 6:44 AM IST

istock.com

No Victory Lap on a Smouldering Truce

Fresh US strikes on Iran show that the ceasefire is at best an interval in a wider conflict; India must stay alert, not relieved.

Basis View

July 8, 2026 at 6:56 AM IST

istock.com

Malhotra’s Message to Markets: No Case Yet for Rate Hikes

RBI is declining to act before inflation becomes visible, broad-based and persistent. It doesn’t want markets to brace for a tightening cycle yet.

Basis View

June 24, 2026 at 1:33 PM IST

Trump’s Iran Deal: This Is What Cutting Losses Looks Like

The agreement is neither victory nor surrender. It is Washington’s recognition that a costly war had stopped serving American interests and that even Israel cannot dictate the limits of US strategy.

Basis View

June 19, 2026 at 8:57 AM IST

Warsh’s Fed has Put Inflation Credibility Ahead of Market Comfort

The new Chair’s hawkish debut was less about an imminent rate rise than restoring discipline, credibility and uncertainty to US monetary policy.

Basis View

June 18, 2026 at 3:56 AM IST

US Fed

Not Every Oil Shock or Sharp Currency Move is 1991

Oil shocks always warrant vigilance, but this time around India’s external buffers, services export strength, and improved policy framework make 1991 analogies more distracting than useful.

Basis View

June 16, 2026 at 2:27 AM IST

iStock.com

RBI Cannot Afford to Look Through This Shock

The RBI's own forecasts suggest it cannot ignore energy and food shocks. Rising core inflation may require rates to move back towards 6%.

Basis View

June 8, 2026 at 6:05 AM IST

iStock.com

RBI Defends the Framework, Not the Rupee

Monetary Policy

The RBI chose capital-flow measures over rate action, reinforcing the principle that inflation and growth, not the exchange rate, remain monetary policy's primary mandate.

Basis View

June 5, 2026 at 6:08 AM IST

istock.com

The Rupee Does Not Need a Speaking Role in Monetary Policy

Monetary Policy

The June review will be scrutinised for clues on how the MPC views rupee weakness, as an inflation risk or as a monetary policy consideration.

Basis View

June 4, 2026 at 1:26 PM IST

Istock.com

Bank Indonesia Has Chosen Currency Defence Over Comfort

The rupiah’s slide left Bank Indonesia with shrinking room for patience. The 50-bp hike is as much about credibility as inflation.

Basis View

May 20, 2026 at 12:49 PM IST

Istock.com

Above and Beyond Duty

Current macroeconomic stress may mute criticism over the disproportionate increase in cess relative to customs duty in the latest hike in import taxes on gold and silver.

Basis View

May 13, 2026 at 9:27 AM IST

stock/Andy

Congress Finds an Opening as Rivals Fade, but Time is Running Out

Congress faces a narrower but clearer path as rivals fade, but without vision and organisational reset, the opening may yet strengthen the BJP’s dominance.

Basis View

May 5, 2026 at 8:28 AM IST

inc.in/

Basis Shorts

October 14

IDBI Sale May Push Divestment Receipts Above Target

T-Bill Auction Reveals the Cost of Tighter Money

India’s Liquidity Surplus Faces Diwali Test as RBI FX Intervention Drains Funds

Rupee Defence Bets Push OIS Rates Higher, Flatten the Curve

Wholesale Inflation Seen Near 11.4%, Adding to Price Pressures

The Bureau

Indian Shares Fall as Oil Climbs, FPI Outflows Weigh On Sentiment

Govt Approves Fairfax’s ₹528.78 Billion bid for IDBI Bank

RBI Governor Says Ready to Act to Keep Rupee Orderly - Moneycontrol

PODCAST: Does Monetary Policy Need a New Paradigm with Abheek Barua

Does Monetary Policy Need a New Paradigm?

In Search of the Lesser Florican

Maneet Pal Singh