R. Gurumurthy

R. Gurumurthy

Gurumurthy, ex-central banker and a Wharton alum, managed the rupee and forex reserves, government debt and played a key role in drafting India's Financial Stability Reports.

What the Fed Moment Reveals About America’s Malignant Normality

Why Trump was never the real anomaly, and how institutions, professionals, and elites slowly learned to treat democratic danger as routine.

R. Gurumurthy

January 12, 2026 at 8:24 AM IST

Article related image

White House

Living in Beck’s World

From climate change to financial crises and pandemics, the world today feels uncannily like the risk society Ulrich Beck warned us about decades ago.

R. Gurumurthy

January 7, 2026 at 6:23 AM IST

Article related image

Via WikiCommons

Reading RBI’s Stability Report Without the Rose Tint

Read past the prose in the RBI’s Financial Stability Report and the data tell a different story on stress tests, bond yields, NBFC risks and fiscal constraints.

R. Gurumurthy

January 5, 2026 at 2:25 AM IST

Article related image

iStock.com

Why India Should Stop Treating Currency Depreciation as a Growth Strategy

A weaker rupee no longer guarantees competitiveness. In today’s India, depreciation raises inflation and capital costs—turning a once-useful tool into a macroeconomic risk.

R. Gurumurthy

December 31, 2025 at 8:31 AM IST

Article related image

SME Credit: Too Political to Fail, Too Risky to Fund

Opinion

SME credit isn’t stalled for lack of schemes, but because banks are asked to lend politically and price risk commercially—an impossible mix that turns credit into entitlement and caution into policy failure.

R. Gurumurthy

December 29, 2025 at 7:36 AM IST

Article related image

IStock.com/paulprescott72

The Peculiarity of Our Times

Basis Life

As wealth compounds at digital speed and markets double as moral arbiters, our age pairs dazzling innovation with deep inequality—turning abundance into spectacle and deprivation into data.

R. Gurumurthy

December 27, 2025 at 3:12 AM IST

Article related image

iStock.com

The Underpriced Asset Class: Pleasant Uncertainties

Markets price fear well but relief poorly. Peace in Ukraine could compress uncertainty, steady the dollar, lift EMs and drive rotation.

R. Gurumurthy

December 23, 2025 at 5:48 AM IST

Article related image

iStock.com

Why India’s IPO Boom is Raising More Questions Than Capital

Exit doors disguised as entry points: By the time the bell rings, the real money has already left the building.

R. Gurumurthy

December 17, 2025 at 11:12 AM IST

Article related image

Amey Bane/iStockphoto.com

Stablecoins, CBDCs, and the RBI’s Selective Logic

In a world where money is becoming a networked technology, caution without engagement may itself become a source of vulnerability.

R. Gurumurthy

December 13, 2025 at 4:30 AM IST

Article related image

RBI’s Quiet Hawkishness Behind a Compelled Rate Cut

Monetary Policy

A dovish rate cut on the surface masks a quiet hawkishness, as the RBI calibrates policy with a cautious eye on reflating a low-inflation economy.

R. Gurumurthy

December 5, 2025 at 11:37 AM IST

Article related image

The Cockroach Warning and the Garbage Lending

Private Credit

Private credit has grown into a vast, opaque engine of global finance, creating a blind spot where innovation surges but risk remains hard to see.

R. Gurumurthy

December 4, 2025 at 8:37 AM IST

Article related image

Via WikiCommons

Why SEBI’s REIT-InvIT Split Risks Distorting Market Logic

India’s new REIT classification might boost liquidity but leaves InvITs sidelined, creating a regulatory mismatch that blurs categories and risks investor confusion.

R. Gurumurthy

December 1, 2025 at 5:09 AM IST

Article related image

Jimmy vikas/cc

Crawling Rupee, Creeping Risks on the RBI’s December Tightrope

Monetary Policy

A deceptive macro calm hides real fragilities, leaving the RBI heading into this review with plenty of room to misstep.

R. Gurumurthy

November 27, 2025 at 6:33 AM IST

Article related image

Poonam Gupta's tweet

Black Friday: How a Post-Thanksgiving Sale Became a Global Psychological Trap

Black Friday did not begin as a celebration of discounts. It began as chaos.

R. Gurumurthy

November 23, 2025 at 8:44 AM IST

Article related image

Via WikiCommons

Why India Still Lacks a Credible Framework to Resolve Failing Banks

India shelved its FRDI Bill amid public panic, exposing deep trust and capacity gaps. Without a credible resolution regime, the next financial failure could prove far costlier.

R. Gurumurthy

November 23, 2025 at 8:05 AM IST

Article related image

Malhotra’s RBI: Between Freedom and Friction

Malhotra completes his first year at the RBI next month. His tenure so far reveals a governor intent on pushing boundaries, loosening rules, and learning where freedom ends and systemic risk begins.

R. Gurumurthy

November 17, 2025 at 6:11 AM IST

Article related image

RBI

The Religion of SIPs: India’s March to Market Salvation

Are SIPs India's safest investment habit or a blind ritual that could distort markets? What happens when faith replaces fundamentals in financial behaviour?

R. Gurumurthy

November 11, 2025 at 8:48 AM IST

Article related image

iStock.com

Who Owes What and Whose Debt Is It? Meta, Structured Finance, and the New Corporation

Meta’s $27 billion Hyperion deal shows how the modern firm no longer owns everything it uses but orchestrates capital, partners, and data through design.

R. Gurumurthy

November 6, 2025 at 7:37 AM IST

Article related image

Meta

Where Have All the Bankers Gone? India’s De-Risked Banking Paradox

In saving its banks from collapse, India has saved them from competition. In shielding them from loss, it may have shielded them from relevance.

R. Gurumurthy

November 4, 2025 at 6:34 AM IST

Article related image

iStock.com/lakshmiprasad S

Seen and Stirred: When Two Ticks Turn Blue

Basis Life

Two blue ticks, endless emotions. WhatsApp’s read receipts, meant to offer clarity, have become digital mirrors reflecting our deepest anxieties about trust, control, and connection in an always-on world.

R. Gurumurthy

November 1, 2025 at 6:37 AM IST

Article related image

iStock.com

The Bureau

Is Geopolitics the Signal? Markets, Money Flows & Gold Explained
Learning to Shoot: I Tried to Fly Before I Could Walk
Image