Kalyan Ram

Kalyan Ram, a financial journalist, co-founded Cogencis and now leads BasisPoint Insight.

India Paid a Growth Price to Win a Ratings Prize

India’s fiscal discipline won a ratings upgrade and lowered capital costs. Now it must use that space to shield growth from global headwinds.

Kalyan Ram

August 14, 2025 at 3:20 PM IST

Finance Ministry

India’s 1991 Moment, Phase Two: Trade Turbulence a Wake-Up Call

Trump’s tariff shock is no 1991 crisis, but it could be the trigger for deeper reforms in labour, land, and governance that India can no longer defer.

Kalyan Ram

August 7, 2025 at 9:36 AM IST

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RBI’s Premature Stance, Goalpost Shift May Haunt It on Growth

Monetary Policy

Trump’s tariff assault highlights why the RBI should have stayed accommodative, aiding transmission and preserving flexibility for future shocks.

Kalyan Ram

August 6, 2025 at 10:56 AM IST

AI Generated

India’s Recovery Plan Is Missing Its Fiscal Half

While the RBI has acted to support growth, the Finance Ministry’s virtual silence since the Budget leaves policy looking oddly one-handed.

Dhananjay Sinha

Kalyan Ram

July 20, 2025 at 6:52 AM IST

RBI's Rate Cuts A Pleasant Surprise: Abrupt Policy Shift Stoke New Concerns

Kalyan Ram

Rajesh Mahapatra

June 9, 2025 at 6:43 AM IST

Hyderabad Blues: Central Banking Memories And Quiet Returns

Musings

A hometown visit turns into a quiet reckoning with central banking’s past, as two former RBI Governors open their doors and their minds.

Kalyan Ram

June 8, 2025 at 2:05 PM IST

Made from WikiCommons

RBI’s Abrupt Policy Shift Risks Undermining Its Own Credibility

Markets do not fear rate cuts or hikes. They fear a central bank that shifts stance and floods the system with liquidity before the economy is ready.

Kalyan Ram

June 6, 2025 at 3:09 PM IST

Screengrab from RBI Press Conference

India’s Fiscal Fault Lines Risk Derailing Viksit Bharat Vision: Subbarao

Interview

The former RBI Governor warns that weak state finances, freebies, and Centre–state rifts could upend India’s journey to becoming a truly developed economy.

Kalyan Ram

June 6, 2025 at 3:30 AM IST

Dr Subbarao on RBI, Rupee, and Fiscal Fault Lines

Kalyan Ram

June 5, 2025 at 6:03 AM IST

Subbarao Flags RBI’s Excessive FX Intervention, Seeks Policy Clarity

Interview

RBI must walk the talk on rupee management, says the former RBI Governor, warning that persistent intervention distorts markets and weakens credibility in this third of the four-part interview series.

Kalyan Ram

June 5, 2025 at 2:58 AM IST

MPC Needs Exchange Rate Lens In 2026 Overhaul, Says Ex-RBI Chief

Interview

Subbarao says ignoring the rupee in policy calculus is risky, and calls for a wider MPC mandate in the review of the framework in Part 2 of a four-part interview.

Kalyan Ram

June 4, 2025 at 3:23 AM IST

India Is A Poor Rich Nation, Can’t Grow Without Fixing Inequality: Subbarao

Interview

Former RBI Governor Subbarao says rapid growth alone won’t deliver prosperity; India must share gains widely and fix structural imbalances.

Kalyan Ram

June 3, 2025 at 3:29 AM IST

Rangarajan Says India Must Not Dilute 3% Fiscal Deficit Cap

Interview

Rangarajan warns against replacing India’s 3% deficit anchor, saying it risks crowding out private investment and raising interest rates.

Kalyan Ram

May 30, 2025 at 4:40 PM IST

Operation Sindoor Signals India’s New Zero-Tolerance Terror Doctrine

India sets a new counter-terror playbook with Operation Sindoor, warning Pakistan: no talks, no trade, and no peace without dismantling terror.

Kalyan Ram

May 12, 2025 at 5:14 PM IST

PIB

What Role Should SDF Play In RBI’s Next Liquidity Framework?

As the RBI rethinks its operating framework, the SDF’s function—transitional fix or structural floor—demands sharper institutional clarity.

Kalyan Ram

April 24, 2025 at 3:20 PM IST

Anurag Vijay/CC

Interview: RBI's Liquidity Condundrum with G. Mahalingam

Kalyan Ram

G. Mahalingam

March 20, 2025 at 5:10 AM IST

Where is Pedwali?

It was natural for a mother tigress to leave her cubs for long stretches—this was how they learned independence—but something felt different this time.

Shivaram Subramaniam

Kalyan Ram

March 11, 2025 at 10:08 AM IST

Interview: Will RBI's NBFC Relaxation Work? In Conversation with Dhananjay Sinha

Kalyan Ram

March 6, 2025 at 6:51 AM IST

RBI Swings To Action With OMO Buys As Rate Cut Getting Wasted

Markets shrugged off RBI’s first rate cut in five years — ₹1 trillion OMOs may get some bang for the buck, though not this month.

Kalyan Ram

March 6, 2025 at 4:11 AM IST

Interview: The Rupee’s Adjustment: RBI’s Dilemma and Market Realities with G. Mahalingam

Kalyan Ram

February 24, 2025 at 7:40 AM IST

The Bureau

India’s Economy Expands 7.8% in June Quarter, Highest in Five Quarters

Rupee Hits Record Low as Tariff Shock Fuels FPI Outflows

Trump Tests the Guardrails of US Credibility

India’s Industrial Output Growth Hits Four-Month High of 3.5% in July

Fed Eyes Data Before Rate Decision; Trump’s 50% Tariff on India in effect

Fitch Affirms India Rating Days After S&P Upgrade, Points to Tariff Risks

Lifting the Lid on Regulatory Silence

How Some Importers Mined a Scheme for Exporters to Dodge Exchequer

Sanjeev Sanyal on Trump, India’s Growth Path, and Process Reforms

Sarci-Sense: About Silent Goodbyes & How Middle-Age Friendships Disappear

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