MPC Review

RBI policy: Goldilocks, FX, and the Windscreen

A rare Goldilocks mix of strong growth and ultra-low inflation set the stage for a finely balanced policy call, even as a sliding rupee tested the RBI’s nerve.

Vivek Kumar

December 7, 2025 at 5:48 AM IST

iStock.com

Week in Numbers: Tracking India’s Economic Pulse

Recent data tell a story of two Indias – booming GDP growth and record-low inflation, yet struggling with anaemic industrial growth and rising external risks.

Datametricx

December 6, 2025 at 9:58 AM IST

iStock.com

Monetary Policy

India’s ‘Goldilocks’ Moment: Stabilising Sentiment in a Hyper-Volatile World

Goldilocks isn’t just a fairy tale; it’s India’s economic mood right now—“just right,” and more fragile than we think.

Kirti Tarang Pande

December 6, 2025 at 7:35 AM IST

iStock.com

Monetary Policy

Markets Have the Rupee-Wheel, RBI Keeps the Brakes

RBI will not defend rupee levels, only volatility. For India Inc, the message is blunt: hedge systematically and stop assuming a central-bank safety net.

Babuji K

December 6, 2025 at 3:57 AM IST

iStock.com

Monetary Policy

RBI’s Rate Cut Shows Rupee is No Obstacle to Easing

The MPC cut rates despite the rupee’s wobble, signalling what policy has long implied. The currency is simply not a factor in the RBI’s rate calculus.

BasisPoint Groupthink

December 5, 2025 at 2:12 PM IST

Market Wrap

Sensex, Nifty Climb After RBI Rate Cut Boost Sentiment

An end-of-day recap of all that transpired in the Indian markets, highlighting the major price movements and the factors driving them

Dehuti Jani

December 5, 2025 at 11:47 AM IST

Monetary Policy

RBI’s Quiet Hawkishness Behind a Compelled Rate Cut

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

Opinion

Malhotra Keeps Rate Cuts in Play, but Will He Move Again?

Governor Malhotra kept the easing cycle alive on Friday, yet his real objective may be to extract transmission rather than commit to another cut.

Kalyan Ram

December 5, 2025 at 11:06 AM IST

Poonam Gupta

MPC Review

Policy Reflects Growth Concerns

Repo cut and liquidity infusion signalled the RBI’s deeper worry that growth momentum is softening despite strong headline numbers.

Rupa Rege Nitsure

December 5, 2025 at 8:48 AM IST

Monetary Policy

RBI Cuts Rates, Reading Softness Beneath the 8.2% Shine

RBI cut rates despite 8.2% growth, signalling it sees early softening beneath the headline and is using rare disinflation space to steady momentum and cool yields.

BasisPoint Groupthink

December 5, 2025 at 5:17 AM IST

RBI Tweets

Market Wrap

Indices Recover Modestly, Brace for RBI Decision and Rupee Volatility

An end-of-day recap of all that transpired in the Indian markets, highlighting the major price movements and the factors driving them

Dehuti Jani

December 4, 2025 at 11:43 AM IST

Monetary Policy

RBI Must Avoid June’s Missteps as Stance and Signals Take Centre Stage

The RBI’s December review must prioritise clear signalling and avoid June’s mistakes.

Richard Fargose

December 4, 2025 at 5:28 AM IST

RBI Tweets

Dollar/Rupee Premium Rises as Importer Demand Builds, Policy View Shifts

BasisPoint Insight

December 4, 2025 at 5:14 AM IST

Rupee Dilemma: The Case for Strategic Silence

RBI’s reticence, even as the rupee slips past 90, has unsettled markets. But sometimes, saying more only compounds the problem.

BasisPoint Groupthink

December 4, 2025 at 4:30 AM IST

Market Wrap

Nifty Drift Lower; FII Selling, Record-Low Rupee Weighs Sentiment

An end-of-day recap of all that transpired in the Indian markets, highlighting the major price movements and the factors driving them

Dehuti Jani

December 3, 2025 at 11:43 AM IST

A Leaner Rulebook Begins Malhotra’s RBI Legacy

The RBI’s consolidation of thousands of circulars into 244 Master Directions signals a structural shift in regulation and an emerging legacy for Governor Malhotra.

Mint Owl

December 3, 2025 at 7:52 AM IST

RBI

Rethinking SLR Through India’s Political Reality

Any debate on the SLR must be grounded in the political and fiscal realities, not in abstract theories of deregulation. And any rethink must acknowledge that liquidity reserving is not an Indian anomaly but a global norm for safeguarding stability.

Srinath Sridharan

December 3, 2025 at 7:34 AM IST

A Nervous Rupee Meets an Uncomfortable Silence

The rupee’s slide toward 90 underscores a central truth: currencies are not just reflections of fundamentals. They are also mirrors of policy signalling, global crosswinds, biases, and narratives.

V Thiagarajan

December 3, 2025 at 2:42 AM IST

iStock.com

Market Wrap

Sensex, Nifty Slip From Highs; Rupee Hits Fresh Record Low

An end-of-day recap of all that transpired in the Indian markets, highlighting the major price movements and the factors driving them

Dehuti Jani

December 2, 2025 at 11:36 AM IST

Market Wrap

Equities Ease on Cautious Tone After GDP Surprise and Rupee Weakness

An end-of-day recap of all that transpired in the Indian markets, highlighting the major price movements and the factors driving them

Dehuti Jani

December 1, 2025 at 12:02 PM IST

Monetary Policy

A Rate Cut Now Could Strengthen India’s Growth Cushion

With inflation at historic lows and growth surprising on the upside, the RBI may opt for a calibrated repo rate cut to protect India’s global position.

K. Srinivasa Rao

December 1, 2025 at 7:02 AM IST

The Blazing Growth Print India Simply Doesn’t Feel

A headline GDP surge paints an 8% economy, yet earnings, credit, demand and the rupee all tell a softer story.

Dhananjay Sinha

December 1, 2025 at 4:18 AM IST

iStock.com

Stranger Things: India’s High Real GDP Hides More Than it Tells

India’s strong real GDP prints mask weak nominal growth, low inflation and strained fiscal dynamics. With tariffs biting and demand fragile, headline numbers mislead, raising questions for markets, policymakers and the path to sustainable expansion.

Yield Scribe

December 1, 2025 at 3:05 AM IST

iStocks/AlexLMX

Week in Numbers: Tracking India’s Economic Pulse

The RBI has a nice problem to have – a booming economy and record-low inflation. This may make the MPC’s policy decision a tighter call and keep markets on tenterhooks.

Datametricx

November 29, 2025 at 1:07 PM IST

iStock.com

Strong GDP Print Knocks Back Market Hopes of RBI Rate Cut

BasisPoint Insight

November 28, 2025 at 11:24 AM IST

Interview

IMF Flags Rupee Regime as ‘Crawl-Like Peg’ as RBI Steps Up Intervention

IMF’s new tag on India’s exchange-rate regime raises fresh questions on RBI’s FX strategy as the rupee hits new lows, says veteran trader Venkat Thiagarajan.

Rajesh Mahapatra

November 28, 2025 at 8:18 AM IST

iStock.com

Should India Consider FX Auctions?

FX auctions helped Latin markets steady volatility. With sharper offshore swings hitting the rupee, India may benefit from adding them to its defence toolkit.

Babuji K

November 28, 2025 at 4:16 AM IST

Monetary Policy

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

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

Poonam Gupta's tweet

IMF Reclassifies India’s Exchange-Rate Regime as “Crawl-like arrangement”

BasisPoint Insight

November 26, 2025 at 4:11 PM IST

Briefing

India’s Exchange Rate Regime Faces a Moment of Truth

With the rupee trading like a caged bird and IMF reclassification looming, India faces a reckoning on what its exchange rate regime really is.

V Thiagarajan

November 26, 2025 at 3:22 AM IST

RBI Must Not Let Go of Its Communications Rhythm

Some of the RBI’s strongest communication practices are slipping out of view. A steadier rhythm would strengthen both access and expectations.

Mint Owl

November 25, 2025 at 2:38 AM IST

RBI Tweets

Broad Demand Recovery May Lift India’s July–September GDP to 7.4%

India’s Q2 GDP growth is expected to accelerate, supported by firmer demand, a broad rural revival and steady investment, even as public capex softens.

BasisPoint Insight

November 24, 2025 at 3:06 PM IST

iStcoks/mgstudyo

Market Wrap

Markets Retreat Amid Global Risk-Off Wave; Rupee Hits Record Low

An end-of-day recap of all that transpired in the Indian markets, highlighting the major price movements and the factors driving them.

Dehuti Jani

November 21, 2025 at 11:51 AM IST

Amey Bane/iStockphoto.com

Malhotra: RBI Regulation Seeks Middle Path Between Stability and Innovation

BasisPoint Insight

November 20, 2025 at 2:39 PM IST

RBI Trade Relief Measures Timely, Targeted With a Clear Sunset Window

The RBI’s trade relief package shows an institution relying on hard-earned crisis lessons to offer temporary support without loosening discipline.

Mint Owl

November 19, 2025 at 11:05 AM IST

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

RBI

Fiscal Calm Masks Fragile Math Built on Windfalls and Deflators

India may meet its 4.4% deficit goal this year, but only through one-off gains and statistical cushions that leave its fiscal base exposed.

BasisPoint Groupthink

November 13, 2025 at 12:36 PM IST

Finance Ministry

Record-low Inflation Sets Stage for December Rate Cut: I-Sec PD

BasisPoint Insight

November 13, 2025 at 12:09 PM IST

Why the Swiss Court’s AT1 Ruling Shouldn’t Influence YES Bank Case

AT1 bonds carry the risk of abatement. In order to compensate for this risk, the bonds offer rates of interest higher than regular bonds.

TK Arun

November 13, 2025 at 4:08 AM IST

iStock.com

Monetary Policy

Inflation Targeting Needs Flexibility, Not Unanimity

When monetary consensus turns to groupthink, inflation targeting risks losing its flexibility—and its purpose.

Ashima Goyal

November 13, 2025 at 2:35 AM IST

Retail Inflation Hits Record Low in Current Series, To Test RBI’s Statement on Space For Rate Cut

BasisPoint Insight

November 12, 2025 at 12:25 PM IST

Rupee Strains and the Liquidity Paradox Testing the RBI’s Resolve

As the rupee faces tariff-induced pressure, the RBI’s interventions are reshaping domestic liquidity, revealing the delicate balance of currency defence and monetary control.

Shubhada Rao, Vivek Kumar, and Yuvika Singhal

November 12, 2025 at 6:18 AM IST

State Borrowing Pressures Keep Long-End Yields on Edge

State governments’ borrowing programme needed a fix three months ago and is now proving difficult to stabilise.

Yield Scribe

November 12, 2025 at 2:54 AM IST

Briefing

RBI’s GIFT City Move Aims to Bring the Rupee Back Home

RBI’s push to let Indian banks trade NDFs in GIFT City aims to reclaim control of rupee pricing and bring offshore liquidity onshore.

Babuji K

November 11, 2025 at 4:41 PM IST

Pooja T S/Via Wikicommons

Cyber Risk - Digital Banking's Biggest Threat Is Closer Than You Think

Mitigate rising cyber risks in digital banking with AI-driven detection, zero trust, robust training, and rapid response for safer payments and trust.

K. Srinivasa Rao

November 11, 2025 at 3:42 AM IST

iStock.com

YES Bank Additional Tier-1 Bonds: Fading From Public Memory?

YES Bank’s revival masks unresolved questions over its AT-1 bond write-off, as investors await a Supreme Court verdict that could reshape regulation.

Mint Owl

November 11, 2025 at 3:04 AM IST

iStock.com

YES Bank: A Rescue Worth Remembering; and Questioning

The rescue of YES Bank is now being hailed as a success story. Yet beneath the celebration lies a deeper moral hazard of a system that rescued itself while investors paid the price.

Banker Emeritus

November 10, 2025 at 2:16 AM IST

Via WikiCommons

Briefing

The Paradox of Victory: The Winner’s Curse in India’s Bond Auctions

How India’s government bond auctions reveal the winner’s curse, where success can conceal costly misjudgements and shape financial market behaviour.

Babuji K

November 4, 2025 at 7:14 AM IST

iStock.com

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

iStock.com/lakshmiprasad S

Global Fragmentation Demands New Thinking in Delhi

India’s response to global fragmentation must move beyond fiscal comfort and self-reliance slogans to tackle its chronic private-investment inertia.

Dhananjay Sinha

November 3, 2025 at 8:50 AM IST

Finance Ministry

Central Bank Ombudsman Faces its Own Test

A Bombay High Court case revives questions about the limits, fairness, and future of RBI’s redress architecture

Anupam Sonal

November 3, 2025 at 6:46 AM IST

RBI’s Auction Rebuff Calms Bonds, but Upside Risks to Yields Remain

India’s central bank’s surprise rejection of bids in a seven-year bond sale soothed markets briefly, yet underlying demand-supply tensions remain entrenched.

Yield Scribe

November 2, 2025 at 3:13 PM IST

Week in Numbers: Tracking India’s Economic Pulse

India’s industrial growth more than doubled in the July-September quarter, but remained well below the expansion signalled by the PMI.

Datametricx

November 1, 2025 at 7:57 AM IST

RBI’s External Confidence Masks India’s Domestic Weakness

India’s policy resilience is impressive, but ignoring faltering domestic engines like jobs, demand, and savings could prove costly.

Dhananjay Sinha

October 30, 2025 at 12:59 PM IST

iStock.com

Building a Unified Framework for AI Oversight

India is crafting a unified AI governance model where innovation meets integrity. RBI’s FREE-AI and CCI’s oversight framework set the stage for ethical, transparent intelligence.

Anupam Sonal

October 30, 2025 at 8:02 AM IST

iStock.com

Building New Financial Institutions for Sustained Growth

To achieve 8–9% sustained GDP growth, India must build new banks, deepen NBFC capacity, and widen credit access beyond the current few institutions.

K. Srinivasa Rao

October 29, 2025 at 8:09 AM IST

iStock.com

Are Global Markets Truly Steady or Just Holding Their Breath?

Amid tight policies and global uncertainty, financial markets continue to function smoothly, reflecting resilience built through hard-earned lessons

Babuji K

October 28, 2025 at 7:20 AM IST

iStock.com

Cross-Currency

Trump-Xi Hopes Lift Mood as Markets Chase Ghosts of Past Truces

Cross-Currency is BasisPoint’s daily markets note by V. Thiagarajan, decoding global shifts through currencies and the moods that move them.

V Thiagarajan

October 28, 2025 at 5:36 AM IST

Federal Reserve

Gold’s Glow Can’t Revive India’s Spending

Surging gold prices have inflated household wealth on paper, yet the wealth effect remains mostly notional as weak incomes and high debt restrain spending.

Dhananjay Sinha

October 27, 2025 at 9:41 AM IST

iStock.com/D. Talukdar

Interview

Calm Hands Steer India Through Policy Storms

Dr. Michael Patra’s new book reveals the inner theatre of India’s central banking—from crisis firefighting to quiet reforms.

Kalyan Ram

October 27, 2025 at 4:56 AM IST

Tale of Two Reports and the Inflation of Words

The RBI–SBI plagiarism spat turned research into theatre, proving that even economists now crave trending status.

R. Gurumurthy

October 26, 2025 at 5:05 AM IST

Briefing

Why RBI’s ECL Mandate Puts Banks on a New Prudential Frontier

The new expected credit loss framework signals a shift in RBI’s supervisory philosophy, from reactive cleanup to forward-looking prudential control.

Babuji K

October 25, 2025 at 12:13 PM IST

RBI Sitting on 100 bps of Policy Space

If inflation stays near 2.5% and growth around 6.7%, the Taylor rule implies nearly 100 basis points of policy space for the RBI to cut rates.

Barendra Kumar Bhoi

October 24, 2025 at 8:43 AM IST

When Collateral Isn’t Enough: Why ECL Could Redefine Indian Banking

The Expected Credit Loss regime may finally end India’s collateral-first mindset, forcing banks to forecast risk instead of discovering it too late.

Rahul Ghosh

October 23, 2025 at 7:03 AM IST

iStock.com

Between UPI and Cryptos, India's Digital Rupee Fights for Relevance

Two years since launch, India's digital rupee is getting challenged in a country already fluent in UPI, and tempted by the promise of crypto.

Babuji K

October 22, 2025 at 11:05 AM IST

Can Acquisitions Transform the Indian Financial Sector?

Foreign banks are back, this time buying their way into India’s lenders. Is this just another fling or lasting change of capital with conviction?

R. Gurumurthy

October 22, 2025 at 3:55 AM IST

iStock.com

Monetary Policy

MPC’s New Voice Speaks the Old Grammar of Caution

Indranil Bhattacharyya’s debut echoes the RBI’s old grammar of caution—clear in logic, yet padded with the rhetorical crutches it didn’t need.

BasisPoint Groupthink

October 17, 2025 at 1:19 PM IST

India’s Banking Future Lies in Embracing Foreign Capital

India’s central bank and government are striking the right balance by allowing foreign capital into the banking sector while safeguarding stability.

Mint Owl

October 16, 2025 at 10:00 AM IST

Crypto Without Clarity: India’s Risk of Leading From the Shadows

India tops the world in crypto adoption. Yet its unclear rules, high taxes and hesitation risk turning a booming movement into a missed opportunity.

N. Srinivasa Rao

October 16, 2025 at 4:26 AM IST

iStock.com

MPC Keeps Powder Dry as Rate-Cut Debate Heats Up

With inflation at record lows and growth softening, most MPC members now see room for another rate cut this cycle. Yet, they prefer to wait.

BasisPoint Insight

October 15, 2025 at 2:32 PM IST

Juvaida Khatun/Istock

The Anatomy of a Digital Arrest Scam

The digital arrest scams thrive at the intersection of psychology, technology, and institutional gaps. They prey on human emotions like fear and trust to create a sense of urgency that clouds judgment.

Prakhar Rai

October 15, 2025 at 12:52 PM IST

iStock.com

Riding Giants: How India May Catch the Next Big FDI Swell

Trump’s tariffs may unleash a new FDI swell, with reforms, startups and geopolitics aligning as India readies to ride the next big wave.

Michael Debabrata Patra

October 15, 2025 at 3:34 AM IST

iStock.com

India’s Growth Outlook Stays Resilient as IMF Flags Fragile Global Recovery

India leads among major economies as global momentum weakens amid tariff and trade uncertainty

BasisPoint Insight

October 14, 2025 at 3:05 PM IST

iStock.com

Too Much Paper, Too Little Appetite: State Bond Strains Persist

BasisPoint Insight

October 14, 2025 at 4:50 AM IST

Money & Banking

RBI’s Silence Makes its Cheque Reform Harder to Clear

The central bank’s ambitious same-day cheque clearing plan has stumbled at launch. The real problem isn’t just about technology; it’s about communication, too.

Mint Owl

October 14, 2025 at 3:36 AM IST

India’s September Retail Inflation Lowest Since 2017; Core Rises to 4.5%

BasisPoint Insight

October 13, 2025 at 12:05 PM IST

iStock.com

Inside RBI’s Basel III Credit Risk Overhaul

RBI’s alignment to Basel-III capital requirement norms will free up more money to be lent to MSMSEs and NBFCs.

Rahul Ghosh

October 13, 2025 at 8:37 AM IST

Easy Money, Hard Lessons

RBI’s new ECB regime may be inviting balance-sheet risk disguised as capital access

Babuji K

October 13, 2025 at 8:20 AM IST

Briefing

Fed Vs RBI: How They Differ in Monetary Policy, Rates, Inflation Targeting

Inside the Fed and RBI: Why Two Central Banks See Inflation and Growth Differently

Babuji K

October 11, 2025 at 4:44 AM IST

iStock.com

Not All Coins Are Equal: India’s Deliberate March Toward Digital Money

India cautiously explores stablecoins and CBDCs, balancing innovation, programmability, and systemic stability in a rapidly digitalising financial world.

R. Gurumurthy

October 10, 2025 at 3:21 AM IST

RBI

RBI Loosens the Leash, Banks Must Tighten Risk

India’s new credit freedoms mark a turning point for banks, but the real reform lies in how they recalibrate risk, governance, and talent.

K. Srinivasa Rao

October 8, 2025 at 10:41 AM IST

When the State Walks into the Boardroom

Reports of the government’s quiet outreach to mediate tensions within one of India’s largest conglomerates raise a question: how far should the State go in preserving stability without undermining corporate autonomy?

Srinath Sridharan

October 7, 2025 at 9:09 AM IST

tata.com

When RBI Rules Push a Tata Giant to Market, Unexpected Openings Emerge

Tata Capital's regulatory-driven IPO offers investors exposure to an established NBFC brand whose valuation merits scrutiny.

Krishnadevan V

October 7, 2025 at 5:52 AM IST

tata.com

Small Finance Banks: Leading India’s Financial Inclusion

Can India’s Small Finance Banks keep inclusion profitable as they expand deeper into rural markets and face rising credit, cost, and technology risks?

Babuji K

October 6, 2025 at 9:52 AM IST

aubank.in

Opinion

Reading Sanjay Malhotra’s Silent Dialogue

India’s newest central banker reveals more than he says in his latest MPC press conference. Beneath his composure lies a technocrat negotiating with himself.

Kirti Tarang Pande

October 6, 2025 at 5:37 AM IST

Provisioning for Appearances: RBI’s Half-Hearted Tryst with ECL

Has the RBI truly embraced global best practices, or just adopted them for appearances? India’s half-hearted ECL rollout exposes a deeper discomfort with accountability.

R. Gurumurthy

October 6, 2025 at 4:37 AM IST

India’s Growth Story Meets Its Consumption Wall

Tax breaks lift demand for now, but slowing income, weak investment, and US tariffs threaten to sap India’s growth momentum.

Shilpashree Venkatesh

October 4, 2025 at 12:54 PM IST

iStock.com

Briefing

Rupee’s Strategic Faultline-SWOT analysis

The rupee’s fate will hinge less on daily volatility and more on how India tackles its oil dependence, export narrowness, and dollar reliance.

Babuji K

October 3, 2025 at 10:19 AM IST

Monetary Policy

Risk-Based Premiums Must Lead to Higher Bank Deposit Insurance Coverage

RBI’s move to risk-based deposit insurance aligns premiums with bank risk, rewarding good banks and enabling higher protection for depositors.

Mint Owl

October 3, 2025 at 6:18 AM IST

Monetary Policy

RBI Anchors Inflation as Growth Levers Shift Beyond Rates

RBI has anchored long-term inflation expectations, but with growth slipping, non-rate levers now hold the key to sustaining momentum.

Shubhada Rao, Vivek Kumar, and Yuvika Singhal

October 3, 2025 at 4:17 AM IST

Monetary Policy

India’s Economic Balancing Act Faces Tariff and Oil Test

RBI and government reforms aim to cushion growth, but crude and tariff shocks could tip India’s economy off its precarious tightrope.

Alok Kumar Mishra

Iti Vyas

October 2, 2025 at 11:55 AM IST

Monetary Policy

Unguarded Lending Won’t Fix Investment Demand

RBI holds rates but eases bank lending curbs—IPO, M&A, securities finance. Yet without investment demand or PPP reforms, such a leeway won’t fix growth.

TK Arun

October 2, 2025 at 11:53 AM IST

Monetary Policy

RBI’s Baby Steps on Rupee Globalisation: Useful Nudges, But…

Recent announcements set the stage for rupee globalisation, but true scale awaits deeper trade and market adoption.

R. Gurumurthy

October 2, 2025 at 10:34 AM IST

Photo by Patrick Hendry on Unsplash

Monetary Policy

RBI Fixes its June Communication Misfire

The October review showed that central banking is about shaping expectations, not exhausting firepower upfront.

Mint Owl

October 2, 2025 at 9:39 AM IST

RBI Tweets

Monetary Policy

Review of MPC Decision: What Does it Mean to be Forward-Looking?

Is it forward-looking to let policy be decided by base effects, rather than encouraging the anchoring of inflation expectations at the target?

Ashima Goyal

October 1, 2025 at 5:26 PM IST

WRAP

Partly Monetary Policy, Largely Credit Policy

RBI holds repo rate at 5.5% but turns back to credit policy playbook, spurring lending while leaving December wide open for rate cuts.

BasisPoint Groupthink

October 1, 2025 at 12:22 PM IST

Poonam Gupta's tweet

Monetary Policy

RBI’s Insulated Optimism Jars with Ground Reality

The central bank’s upbeat narrative of resilience overlooks stagnant earnings, weak credit demand, and intensifying global risks.

Dhananjay Sinha

October 1, 2025 at 11:39 AM IST

iStock.com

Monetary Policy

Banks Poised to Challenge NBFCs As RBI Unshackles Restrictions

RBI relaxes capital market lending, acquisition financing norms and higher share lending limits for banks after decades of restrictions

Krishnadevan V

October 1, 2025 at 10:10 AM IST

Monetary Policy

Is the Hunt for a Terminal Repo Rate a Distraction?

Markets may be too eager to bottom-fish for a terminal repo rate. In today’s fluid context, flexibility could matter more than fixation.

Kalyan Ram

October 1, 2025 at 9:34 AM IST

iStock.com

Monetary Policy

RBI Breaks Old Orthodoxy with Regulatory Measures

By dismantling outdated restrictions and aligning banks with global norms, the RBI signals a bold break from decades of financial orthodoxy.

Sachin Malhotra

October 1, 2025 at 9:11 AM IST

Monetary Policy

RBI Reopens the Door to Accommodation

By keeping the repo unchanged yet signalling policy space, RBI corrects June’s misstep and restores credibility to its accommodative posture.

Kalyan Ram

October 1, 2025 at 8:31 AM IST

Screengrab

Monetary Policy

RBI Reopens Rate Door, December Cut Alive

RBI held repo at 5.5%, stance neutral. Malhotra kept powder dry, with inflation benign and growth risks making December a live meeting.

BasisPoint Insight

October 1, 2025 at 5:16 AM IST

Screengrab from a RBI Press Conference

AU Small Finance Bank: Precursor to More Licence Upgrades from RBI

AU Small Finance Bank’s upgrade to a universal bank licence revives hopes among peers and tests RBI’s vision for differentiated banks.

Mint Owl

September 30, 2025 at 3:00 PM IST

aubank.in

Basel Guardrails must Balance Stability, Innovation for NBFCs

India’s NBFCs need Basel guardrails that ensure resilience without choking innovation. Proportionality and clarity hold the key.

Babuji K

September 30, 2025 at 1:13 PM IST

Wladyslaw Sojka/Via Wikicommons

Monetary Policy

No Matter What MPC Does, RBI Communication has to do Some Heavy Lifting

RBI’s biggest challenge is not what it does on rates, but how it explains the why, why not and what next to markets and the wider economy.

Mint Owl

September 30, 2025 at 12:34 PM IST

RBI

Why RBI Must Define CRR as a Legitimate LoLR Tool

RBI must define CRR as a true Lender-of-Last-Resort tool to provide banks with assured liquidity support during crises.

Karan Mehrishi

September 30, 2025 at 10:56 AM IST

Monetary Policy

Time for RBI to Recount, Reset

Beyond the rate call, the October review must recount what has been done, what was achieved, and set the compass for policy in the year ahead.

BasisPoint Groupthink

September 30, 2025 at 10:23 AM IST

iStock.com

Monetary Policy

RBI Must Cut Rates Now, Not Wait Until December

With inflation collapsing, growth momentum set to fade, and the rupee a shock absorber, the RBI must cut rates in October, not wait till December.

Madhavi Arora

September 30, 2025 at 5:17 AM IST

Screengrab from a RBI Press Conference

Monetary Policy

RBI Should Stay on Hold in October to Preserve Stability

With inflation subdued and growth resilient but external shocks looming, the RBI’s wisest move in October is to pause and preserve stability.

N. Srinivasa Rao

September 30, 2025 at 4:01 AM IST

Anurag Vijay/CC

India’s Second Half Borrowing Plan Balances Market Needs, But Yield Relief Hinges on RBI

BasisPoint Insight

September 26, 2025 at 4:15 PM IST

Timeline

Eight Years, Many Judgements Later Bhushan Power Stays with JSW

A Supreme Court verdict upholds JSW Steel’s acquisition of BPSL, resolving years of disputes, bolstering faith in India’s insolvency law.

BasisPoint Insight

September 26, 2025 at 1:41 PM IST

iStock.com/naveen0301

Monetary Policy Should Look Beyond Repo Rate Cut

RBI’s 100 bps repo cut has lowered EMIs for existing borrowers, but new loans remain costlier. Liquidity gaps, sticky deposits, and high bond yields stall full transmission.

K. Srinivasa Rao

September 26, 2025 at 11:12 AM IST

Briefing

Currencies Under Siege as Fiscal Dominance Takes Hold

When fiscal dominance weakens central banks, the first casualty is often currency stability. The rupee’s path today echoes the struggles of the yen and yuan.

V Thiagarajan

September 26, 2025 at 6:56 AM IST

iStock/Pla2na

Customer Service: The Missing Core of Survival in Indian Banking

India wants global banking giants by 2047, but without fixing everyday service failures, trust may erode faster than balance sheets grow.

Anupam Sonal

September 23, 2025 at 6:57 AM IST

Wikimedia Commons

Monetary Policy

India’s Wage Malaise Leaves RBI Little Room to Hide

With inflation subdued and nominal growth slipping, structural reforms and monetary easing must work together. The October policy is a test of intent.

Yield Scribe

September 23, 2025 at 6:42 AM IST

iStock.com

Interview

Policy Expert Ajay Shankar says Trump’s Visa Shock is America’s Loss, Not India’s

Trump’s visa shock hurts America more than India. New Delhi must use its market and talent strengths to stay firm.

BasisPoint Insight

September 22, 2025 at 7:59 AM IST

iStock.com

RBI Must be More Consistent, Transparent in How it Communicates

Predictability and transparency in communication are as important for a central bank as its policy actions. RBI must revisit its practices to ensure consistency.

Mint Owl

September 19, 2025 at 5:48 AM IST

India’s Gold Muscle Is Wasted Without Market Credibility

India buys a fifth of the world’s gold yet takes cues from London and New York. Without trust, transparency and reform, import muscle means little.

G. Chandrashekhar

September 18, 2025 at 9:35 AM IST

stock/Andy

Retail Inflation Could Briefly Touch Zero in October

GST cuts and a favourable base effect may push India’s retail inflation near zero in October, posing a fresh test for the RBI’s rate calculus.

Datametricx

September 18, 2025 at 8:11 AM IST

IStock/RealPictures

PSU Bank Mergers Without Deal-Making Skills Will Have Little Global Impact

India's state-owned banks excel at lending but lose billion-dollar deals to global rivals. Why PSU banks need deal-making DNA for Viksit Bharat 2047.

Krishnadevan V

September 18, 2025 at 5:54 AM IST

iStock.com

India’s Households Signal Fragile Revival, Rural Tilt

Disinflation and policy support have created space, but without robust income growth the festive-season boost may fall short.

Dhananjay Sinha

September 16, 2025 at 7:53 AM IST

iStock.com

Week in Numbers – Tracking India’s Economic Pulse

With retail inflation trending below projections, GST rate cuts, potential Fed easing, and US tariffs weighing on India’s growth, the window for an RBI rate cut in December may be opening.

Datametricx

September 15, 2025 at 4:27 AM IST

iStock.com

Briefing

Rupee on a Leash: RBI’s Dictated Depreciation Strategy

The rupee’s path is less about macro forces and more about RBI’s silent hand, steering it lower while guarding stability with tight control.

V Thiagarajan

September 14, 2025 at 6:33 AM IST

India’s CPI Inflation Rises to 2.07% in August, First Uptick in 10 Months

BasisPoint Insight

September 12, 2025 at 11:52 AM IST

India’s Double Policy Act Faces Test of Transition and Transmission

Repo cuts and GST 2.0 are India’s shield against Trump’s tariff shock, but fiscal risks and weak transmission loom.

Babuji K

September 9, 2025 at 2:56 PM IST

Why Cultural Capture Demands a Rethink of Regulatory Basics

Episodes of failure do not always occur because of individual misconduct within an institution. A subconscious, gradual drift away from well-established standards and principles may hasten a race to the bottom as well.

Rabi N. Mishra

September 8, 2025 at 3:15 PM IST

Via WikiCommons

RBI Must Not Outsource the Craft of Supervision

Outsourcing bank supervision to consultants risks turning judgment into checklists. RBI should modernise without losing its supervisory wisdom.

R. Gurumurthy

September 4, 2025 at 12:50 PM IST

iStock.com

Tata Sons IPO and the Case for RBI Easing Norms

The peculiarity in Tata Sons status as a core investment company has made the debate on whether it should list more complex than the rules suggest. Will RBI cling to formality or adapt to substance?

Mint Owl

September 3, 2025 at 4:35 PM IST

tata.com

State Bond Glut is Breaking Monetary Transmission

Excess supply of state government bonds is distorting markets, widening spreads, and choking the Reserve Bank’s monetary transmission.

Yield Scribe

September 3, 2025 at 7:40 AM IST

Nominal Weakness Tells the Real Story for RBI

Headline GDP growth flatters to deceive. Weak nominal expansion and tariff shocks mean the RBI must maintain an easing bias.

BasisPoint Insight

September 1, 2025 at 7:12 AM IST

iStock.com

Book Review

God Laughs, Markets Listen, and the Reddyisms that Still Resonate

From wit and ambiguity to humility and integrity, YV Reddy’s new book shows why values matter more than plans in an uncertain world.

Kalyan Ram

August 31, 2025 at 4:45 AM IST

Why Credit Growth Remains Tepid in India

Healthy balance sheets can’t offset muted demand as higher real rates and global headwinds weigh on investment appetite.

Rudra Sensarma

August 30, 2025 at 5:35 AM IST

File Photo

Indian Banks’ Capital Comfort to Face Twin Challenges

Can Indian banks sustain their capital strength once Basel’s Pillar-II and IND-AS 109 start demanding more?*

Rahul Ghosh

August 29, 2025 at 2:53 PM IST

Wladyslaw/ Via Wikicommon

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

India’s GDP grew 7.8% in April–June, the fastest in five quarters and above forecasts of 6.7–6.9%. Growth was led by services and investment, while mining and utilities remained weak.

BasisPoint Insight

August 29, 2025 at 12:07 PM IST

iStock.com

Open Mouths, Open Markets, and RBI’s Signalling Gap

The RBI’s June gamble of frontloaded easing and a sudden neutral stance has backfired, raising borrowing costs. Governor Malhotra now needs both words and deeds.

BasisPoint Groupthink

August 27, 2025 at 6:45 AM IST

RBI

MPC Framework

If it Ain’t Broke, Don’t Fix it

The framework may warrant limited refinement—specifically, the inclusion of a clearly defined escape clause for exceptional circumstances.

Vivek Kumar

August 26, 2025 at 2:05 PM IST

iStock.com

MPC Framework

There Should Always be Food on RBI’s Inflation Plate

As India debates whether food prices should be excluded from inflation targets, the RBI will find itself balancing political pressure with institutional credibility. The RBI must remember that inflation is not a percentage point; it is the price of a plate of food.

Srinath Sridharan

August 26, 2025 at 5:20 AM IST

iStock.com

Central Banking

The Monetary Power of Words in Central Bank Communication

Words have become one of the most powerful instruments in monetary policy, sometimes stronger than rate moves or liquidity operations.

Babuji K

August 25, 2025 at 9:23 AM IST

Does Climate Change Matter for Monetary Policy Decisions?

Climate shocks are reshaping inflation, growth, and financial stability. For the RBI, integrating climate risks into monetary policy is no longer optional.

Hemachandra Padhan

August 24, 2025 at 8:44 AM IST

iStock.com

Free UPI is a Bill the State Must Own

India’s UPI success masks a funding gap. Unless the government or RBI pays up, banks and fintechs will keep bleeding to keep it “free”.

Mint Owl

August 21, 2025 at 1:39 PM IST

Fed Enters RBI Debate as Singh Flags Global Linkages

BasisPoint Insight

August 21, 2025 at 2:44 AM IST

Via WikiCommons

Lilavati Case Puts HDFC Bank Chief in Unwanted Spotlight

A courtroom battle over Mumbai’s Lilavati Trust has put HDFC Bank chief Sashidhar Jagdishan’s reputation on trial far beyond the balance sheet.

BasisPoint Groupthink

August 19, 2025 at 8:04 AM IST

WikiCommons

GST Reset Faces Revenue and State Test

The Centre’s bold push for a two-slab GST by Diwali promises relief for households and MSMEs, but consensus with states and revenue arithmetic will be the real test.

Najib Shah

August 17, 2025 at 6:17 AM IST

iStock.com

Inflation’s All Zen Unless You Buy Coconuts, Oils or Little Gold on the Side

Record-low inflation sounds dreamy, unless your shopping list includes coconuts, cooking oil, or a bit of gold for the bank locker.

BasisPoint Insight

August 15, 2025 at 8:04 AM IST

iStock.com

S&P Upgrade Should Open a Window for Structural Reforms

India’s S&P upgrade to BBB boosts confidence. The real gain will come if it’s used to spur investment, jobs, and trade resilience.

Dhananjay Sinha

August 14, 2025 at 4:34 PM IST

iStock.com

Govt’s Fiscal Discipline Pays Off as S&P Upgrades India’s Rating

Rating agency says Trump’s tariffs pose limited risk given India’s consumption-driven growth; reduced Russian crude imports unlikely to impact fiscal health.

BasisPoint Insight

August 14, 2025 at 10:09 AM IST

iStcoks/mgstudyo

India’s Banks Need a New Business Model Before Liquidity Risks Bite Harder

Deposit growth is slowing, liquidity risks are rising, and RBI rules are shifting. India’s banks must rewire their business models before the next shock.

K. Srinivasa Rao

August 14, 2025 at 7:30 AM IST

iStock.com/lakshmiprasad S

All That Glitters: Gold Reserves Surge in Challenge to Dollar’s “Exorbitant Privilege”

Central banks are hoarding gold at record pace, hedging against dollar risk and geopolitical shocks. The yellow metal may not dethrone* the greenback yet, but it is back in the game.

Michael Debabrata Patra

August 14, 2025 at 3:27 AM IST

Screengrab from "RBI Unlocked: Beyond the Rupee" series (JioHotstar)

From Jalanga to Gozaria — RBI’s Long Walk to the People

From persuading the unbanked to guarding against digital mules, RBI’s field visits show how inclusion goals adapt to changing times.

BasisPoint Insight

August 13, 2025 at 10:04 AM IST

RBI

Private Banks Lead Hiring as State Lenders Lose Ground in Workforce

India’s banking workforce is growing fast, with private and small finance banks driving change. But the gains are uneven across regions, roles, and gender.

Akshi Chawla

August 13, 2025 at 6:25 AM IST

File Photo

RBI Communication Misstep Drives 10-Year Yield Spread Over Repo to 100 bps

The stance pivot drove up long yields, impairing transmission, sapping demand, and raising borrowing costs just as risks build.

Richard Fargose

August 13, 2025 at 2:02 AM IST

ICICI’s Minimum Balance Hike Signals Banking’s Cost Reality Check

Indian banking must shed the pretence to free service and confront the structural trade-offs between inclusion and profitability.

Srinath Sridharan

August 12, 2025 at 3:44 PM IST

iStock/Mrinal Pal

When the RBI Governor’s Words Move More Than Just Markets

Two recent flare-ups show why Sanjay Malhotra must blend facts with empathy because, for an RBI governor, every word can be policy.

BasisPoint Groupthink

August 12, 2025 at 9:36 AM IST

Screengrab from RBI Press Conference

India’s Costliest Bond Faces Clock as Tata Talks Advance

Shapoorji Pallonji Group’s talks to sell its Tata Sons stake could erase India’s costliest bond burden, but valuation and time pressure make it a cliffhanger.

Krishnadevan V

August 11, 2025 at 12:58 PM IST

Konkan Railway/WikiCommons

When a Rate Cut Feels Like a Hike and the Yield Curve Loses its Public Good Role

A 50-bps June cut has turned into a de facto hike as yields climb, eroding monetary transmission and adding to India’s fiscal costs.

Yield Scribe

August 11, 2025 at 2:11 AM IST

iStock.com

The RBI’s Curious Attachment to a Benchmark That Hardly Trades

The RBI’s liquidity panel sticks with WACR as its policy anchor, even though the market it reflects is shrinking fast. Reform? Or regulatory nostalgia?

R. Gurumurthy

August 8, 2025 at 6:43 AM IST

RBI Pauses, Rightly, But October May Cut Through Uncertainty

RBI holds repo with a neutral stance, but October policy could pivot if growth slows or tariffs bite.

N. Srinivasa Rao

August 7, 2025 at 12:39 PM IST

Interview

PM Adviser Sanyal Bats for Process Reforms, Plays Down Trump’s Jibes

Sanjeev Sanyal says India’s growth is intact, urges process reforms, and calls TCS layoffs part of healthy tech churn.

Krishnadevan V

August 7, 2025 at 7:20 AM IST

Monetary Policy

RBI’s Growth Hopes Mask Limits of Policy Easing

The RBI’s optimism on growth belies structural weaknesses and hints that the impact of front-loaded rate cuts may already be waning.

Dhananjay Sinha

August 6, 2025 at 2:14 PM IST

Poonam Gupta

Monetary Policy

RBI’s Inflation Vigil Misses Trade Storm Clouds

The central bank’s hawkish turn on core inflation ignores looming growth risks from Trump tariffs and slowing domestic demand.

BasisPoint Groupthink

August 6, 2025 at 7:39 AM IST

Monetary Policy

Glass Half Full, Half Tariff

Trump calls it a ‘dead economy’; the RBI governor answers with monsoon cheer, falling inflation and a festival season pitch for resilience.

BasisPoint Insight

August 6, 2025 at 6:42 AM IST

Monetary Policy

Rate Cuts, Trade Shocks, and the Limits of Monetary Signalling

When monetary easing is not matched by credit traction, further rate cuts risk becoming ineffective. In a volatile global and domestic setting, the RBI must safeguard its credibility by acting only where it believes the real economy is ready to respond.

Srinath Sridharan

August 5, 2025 at 7:21 AM IST

Anurag Vijay/CC

Tariff Threat Weighs on Rupee, Foreign Exchange Reserves

Trump’s tariffs threaten India’s trade balance and put fresh pressure on the rupee, testing the Reserve Bank’s reserves and policy agility.

Babuji K

August 5, 2025 at 7:17 AM IST

RBI Expected to Pause, but Weak Data Opens Door to Further Cuts

The MPC is expected to hold rates steady, but easing bias remains amid low inflation, moderating growth, and risks from US tariffs.

BasisPoint Insight

August 4, 2025 at 12:13 PM IST

Monetary Policy

RBI Unlikely to Cut Repo Rate as Focus Turns to Credit Transmission

With inflation cooling and liquidity ample, RBI is set to hold rates and wait for credit transmission before fresh policy moves.

K. Srinivasa Rao

August 4, 2025 at 3:44 AM IST

RBI Should Rethink Its FX Swap Playbook Amid Trump Tariff Threats

Ample liquidity tempts RBI to deliver on its $5 billion swap, but rising external risks call for preserving reserves and slowing forward unwinding.

BasisPoint Groupthink

July 31, 2025 at 3:44 AM IST

iStock.com

Household Inflation Expectations Call for Smarter Surveys, Sharper Strategy

BasisPoint Insight

July 23, 2025 at 12:39 PM IST

RBI Steps in With ₹500 Billion VRR as Call Rate Hits Corridor Ceiling

BasisPoint Insight

July 23, 2025 at 8:01 AM IST

Stablecoins and Sovereignty: Why India Must Watch, Not Rush

India must resist FOMO on stablecoins. The US is playing digital geopolitics—India should respond with timing, not haste, to protect sovereignty.

R. Gurumurthy

July 22, 2025 at 9:58 AM IST

iStock.com

Storm in a Tea Cup, Signal in the Steam

RBI lets call rate rise to repo, not to shock but to signal. The WACR is still the anchor, and markets now have no excuse to think otherwise.

BasisPoint Groupthink

July 22, 2025 at 3:16 AM IST

RBI Tweets

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

CRR Deserves More Respect Than Being Reduced to the “New Normal”

By normalising a lower CRR, the RBI risks trivialising a potent policy tool. Clarity, discipline and market signals could all be at stake.

BasisPoint Groupthink

July 17, 2025 at 2:15 PM IST

iStock.com

Call Rate May Stay as the RBI’s Monetary Policy Anchor

Despite shrinking volumes, RBI likely to stick with the call rate as its policy anchor. Governor Malhotra signals no shift to TREPS yet, keeping repo-linked transmission key.

BasisPoint Insight

July 16, 2025 at 9:48 AM IST

Screengrab from RBI Press Conference

Tariffs and Earnings Slowdown Threaten India’s Market Rally

Relief rally is losing steam as Trump tariffs, slowing profits, and weak policy space cast a shadow over India’s market valuations.

Dhananjay Sinha

July 15, 2025 at 2:42 AM IST

iStock.com/ sreeyashlohiya

Hidden Stress Points In Banks – Insights From Financial Stability Report

FSR flags hidden banking risks: slowing credit, NIM squeeze, unsecured loans, MSME stress, and shifting household debt patterns.

Barendra Kumar Bhoi

July 14, 2025 at 3:58 AM IST

RBI

How To Avoid Credit Bubble

Banks face rising pressure to balance credit expansion with market risks amid slowing deposit growth. Innovative deposit strategies and digital solutions are key to ensuring sustainable financial stability.

K. Srinivasa Rao

July 12, 2025 at 2:43 AM IST

Fiscal Puritanism Is India’s Bet On Sovereign Strength

India’s quiet fiscal restraint is more than prudence. It is a strategic choice to secure cheaper capital, improve ratings, and achieve long-term growth.

BasisPoint Groupthink

July 11, 2025 at 4:35 AM IST

RBI

Why RBI’s Call Money Benchmark Is Losing Relevance

RBI’s reliance on WACR as its policy anchor is misaligned with market realities. A shift to secured benchmarks like SORR is overdue.

Richard Fargose

July 10, 2025 at 8:49 AM IST

Politics Before Prudence: The Art Of Freezing Small Savings Rates

Small savings rates stay frozen for voters' comfort, leaving the RBI to wonder how rate cuts are meant to work.

BasisPoint Groupthink

July 8, 2025 at 10:40 AM IST

iStock.com

Rethinking India’s Uneven Credit-Deposit Divide

India’s banking system mobilises deposits nationally but fails to deliver credit evenly. A rethink of regional credit policy is long overdue.

Rajesh Kumar*

July 4, 2025 at 7:30 AM IST

India Faces Stronger External Headwinds As Global Risks Intensify

As the world economy cools and risks multiply, India’s growth story depends on reviving investment, supporting credit, and building resilience.

BasisPoint Insight

July 3, 2025 at 12:19 PM IST

Pavel Muravev/iStock.com

Guardianship Or Overreach? In Defence Of The RBI’s Right To Watch The Experts

The RBI’s move to intensify oversight is a necessary act of institutional responsibility in a governance landscape marked by silence, capture, and structural asymmetry.

Srinath Sridharan

July 1, 2025 at 9:10 AM IST

Write-Offs Drive NPA Decline As Bad Loan Recovery Stays Weak, Shows RBI Report

BasisPoint Insight

June 30, 2025 at 2:35 PM IST

RBI And Government Reports Choose Cheerleading Over Clarity

Official assessments paint a Goldilocks picture while downplaying real risks of uneven demand, fragile investment and rural stress.

BasisPoint Groupthink

June 30, 2025 at 4:57 AM IST

iStock.com

Early Monsoon Tempers Output, But Macro Signals Turn Upbeat

The early onset of the monsoon has brightened agricultural prospects and improved the inflation outlook, even as it appears to have weighed on industrial growth. Other sectors have shown resilience, and early indicators from June point to a recovery.

BasisPoint Groupthink

June 27, 2025 at 3:01 PM IST

istocks/ABHISHEK KUMAR SAH

Interview

Tata Or Batata? Nilesh Shah Lays Out India’s Market Mindmap

From HFT to FDI, inflation myths to rupee truth, Nilesh Shah maps India’s market future—in metaphors only he can mint.

BasisPoint Insight

June 26, 2025 at 4:29 AM IST

AI Generated

RBI’s Financial Conditions Index Deserves Market Attention

The central bank’s new daily FCI gives a sharper read of monetary conditions and may soon shape policy, signalling more than repo rates alone.

BasisPoint Insight

June 26, 2025 at 2:07 AM IST

Anurag Vijay/CC

Small Firms, Big Strain: RBI Study Shows Policy Transmission Is Uneven

A new RBI article confirms that monetary policy hits smaller firms harder. Balance sheets matter more than bond yields in driving investment.

BasisPoint Insight

June 25, 2025 at 3:13 PM IST

RBI Opens The Drain To Re-anchor Short-Term Rates

The return of variable-rate reverse repos signals the RBI’s shift from passive liquidity tolerance to active rate discipline.

BasisPoint Insight

June 24, 2025 at 2:48 PM IST

Screengrab of RBI press conference

Banks Are No Longer The Backbone Of Infrastructure Credit

The RBI’s new project finance guidelines are not about inviting banks back into the sector. They quietly endorse a specialised model already taking shape.

Sujit Kumar

June 24, 2025 at 8:20 AM IST

Istock.com/Emmanuel Nalli

RBI Extends Tenure Of Bandhan Bank Additional Director Till June 2026

BasisPoint Insight

June 23, 2025 at 10:42 AM IST

MPC Minutes Reveal Wobbly Logic Behind the Stance Shift

The June MPC minutes show a committee leaning hard into caution, but its reasoning for abandoning the accommodative stance reveals some puzzling dissonance.

BasisPoint Groupthink

June 21, 2025 at 4:23 AM IST

Poonam Gupta

Why The Current Demand Recovery Rings Hollow

Rural wage gains and urban spending suggest recovery, but weak incomes, falling agri prices, and policy drag limit real momentum.

Dhananjay Sinha

June 18, 2025 at 6:24 AM IST

iStock.com/Debjit Chakraborty

Is India’s Current Monetary Policy Easing Cycle Over?

The MPC reverted to a neutral monetary policy stance in June, but a high real policy rate suggests that further easing is warranted to support growth amid subdued inflation and negative output gaps.

Barendra Kumar Bhoi

June 14, 2025 at 12:43 PM IST

Poonam Gupta

One Step Ahead? How India’s Supervisory Model Measures Up

India’s supervisory reforms offer a contrast to global delays, but resilience also depends on acknowledging what supervision cannot prevent.

Rabi N. Mishra

June 14, 2025 at 6:20 AM IST

Via WikiCommons

Lower Fuel Prices Matter More Than Rate Cuts In Boosting Vehicle Sales

BasisPoint Insight

June 13, 2025 at 8:08 AM IST

"Did He Just Say That?" — A Critical Look At Central Bank Communication

Communication is not PR, it is policy. When central banks speak credibly, they can move economies without moving interest rates.

R. Gurumurthy

June 12, 2025 at 6:20 AM IST

iStock.com

The Monsoon’s Early Promise Is Not Yet A Policy Comfort

Monsoon’s early onset lifted hopes for growth and inflation, but its pause may call for policy caution as rainfall deficits widen.

BasisPoint Groupthink

June 10, 2025 at 9:43 AM IST

iStock.com

A Vote Apart, Why Monetary Policy Needs Dissent

Dissent in the RBI’s rate-setting committee is not defiance. It is foresight. As policy turns bold, a lone voice may be asking the right questions.

Sujit Kumar and Rajendra Paramanik*

June 9, 2025 at 12:33 PM IST

iStock.com

Surplus Transfer: Windfall For Government, Balancing Act For RBI

By transferring a record surplus to the central government and a larger chunk to the risk buffers, the RBI has balanced between supporting fiscal needs and preserving policy credibility.

R. Gurumurthy

June 9, 2025 at 11:19 AM IST

Anurag Vijay/CC

Musings

Hyderabad Blues: Central Banking Memories And Quiet Returns

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

RBI Pushes For Better Rate Transmission, But Structural Frictions Persist

RBI steps up easing with rate and CRR cuts, but uneven liquidity, sticky bank rates, and cautious lending slow real transmission to the economy.

Richard Fargose

June 6, 2025 at 2:49 PM IST

Photo by Patrick Hendry on Unsplash

Monetary Intent And Content Matter, Not Just The Mic

Authority and influence in central banking are earned through judgement, not decibels.

Srinath Sridharan

June 6, 2025 at 12:47 PM IST

Monetary Policy

RBI Frontloads Hyper Accommodation

The RBI’s frontloaded stimulus lifts markets, but its ability to revive growth is constrained by weak income, tepid investment, and global drag.

Dhananjay Sinha

June 6, 2025 at 10:38 AM IST

iStock.com

Monetary Policy

RBI’s New Dharma: Bold Cuts, Balanced Stance

With its bold cuts in repo rate and CRR, and the shift in stance, the RBI has tried to play its role in pushing growth but has a contingency plan, should things go wrong.

Abheek Barua

June 6, 2025 at 9:49 AM IST

RBI

No Mic For Deputy Governor Gupta In RBI’s Monetary Opera

India’s newest monetary policymaker sat silent through a blockbuster policy. Poonam Gupta’s RBI debut came and went, with barely a word.

BasisPoint Groupthink

June 6, 2025 at 8:13 AM IST

Screengrab of RBI press conference

Monetary Policy

Operation Frontload: RBI Fires All Weapons, Then Calls For Peace

RBI unleashed a surprise rate-and-liquidity barrage, then changed stance to neutral. Was this pre-emption, or a response to unseen threats?

BasisPoint Groupthink

June 6, 2025 at 7:26 AM IST

PIB

Monetary Policy

RBI Surprises With 50 bps Rate Cut, But Signals Long Pause Ahead

The Monetary Policy Committee’s decision to shift its stance to neutral from accommodative signals that the door to further cuts remains open but the threshold to cut again has risen.

BasisPoint Insight

June 6, 2025 at 4:46 AM IST

Interview

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

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

Interview

Dollar Needs A Hedge As Global Reset Underway, Says ICICI Bank's Prasanna

The dollar is no longer sacrosanct, says B. Prasanna, who also sees 50 bps rate cuts, stable rupee, and mid-cap opportunities ahead.

BasisPoint Insight

June 5, 2025 at 8:26 AM IST

Interview

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

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

Preserve The Fiscal Union, Make States More Fiscally Competitive

India must reform fiscal equity within the Constitution — not fracture its sovereignty by devolving income tax to the states.

Srinath Sridharan

June 4, 2025 at 8:36 AM IST

Interview

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

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

Monetary Policy Or Market Theatre? When Headlines Front-Run The RBI

Overconfident headlines and speculative forecasts risk distorting monetary policy deliberations and undermining institutional credibility.

Srinath Sridharan

June 2, 2025 at 8:20 AM IST

IStock.com

Monetary Policy In A Schrödinger’s Economy

RBI must tread carefully in a Schrödinger’s economy, where outcomes stay indeterminate until observed, demanding reactive policy moves.

Vivek Kumar

June 2, 2025 at 6:41 AM IST

India’s GDP Numbers Look Good—Too Good To Trust

The January–March data is stronger than expected, but deeper fault lines remain in consumption, private investment, and household incomes.

Dhananjay Sinha

June 1, 2025 at 12:58 PM IST

McKay Savage/Via Wikicommons

India’s Growth Pops, But RBI Still Has Reasons To Cut Rates

A 7.4% GDP print in January–March 2025 flatters India’s outlook. With consumption weak and real rates high, RBI can still ease to lift growth.

Yield Scribe

June 1, 2025 at 5:59 AM IST

Interview

Rangarajan Says India Must Not Dilute 3% Fiscal Deficit Cap

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

Valuation Gains Power RBI’s Record Surplus As FX Margins Contract

Valuation gains, not forex profits, drove RBI’s record ₹2.69 trillion surplus, even as trading margins narrowed and provisioning demands rose.

Richard Fargose

May 30, 2025 at 12:01 PM IST

The Case For A Governance Reset At IndusInd Bank

SEBI called out IndusInd’s failures. Insider trades, delayed disclosure, and board apathy demand RBI intervention to protect market integrity.

Krishnadevan V

May 29, 2025 at 10:49 AM IST

iStock.com

India’s Growth Anchored In Reform, Stability Amid Global Shocks: RBI Report

BasisPoint Insight

May 29, 2025 at 7:06 AM IST

A Profit-Making Central Bank Is A Reflection Of Poor Fisc

Central bank profits can reveal more about government overspending than monetary success.

Alpana Killawala

May 28, 2025 at 1:02 PM IST

iStock.com

Buffer Reboot

Higher RBI Dividend Payout Now Comes With Stricter Framework

RBI’s recalibration of its risk buffer signals a shift from rigid rules to responsive resilience—putting prudence ahead of payouts in a world of rising uncertainty.

Dhananjay Sinha

May 25, 2025 at 4:11 AM IST

High Buffer Shaves ₹750 Billion Off RBI Surplus, Narrows Fiscal Wiggle Room

The RBI’s higher risk buffer trims the surplus transfer, limiting fiscal headroom, but signalling a longer-term priority on financial resilience.

Richard Fargose

May 23, 2025 at 3:41 PM IST

RBI Board Approves ₹2.69 Trillion Surplus Transfer To Govt, Raises CRB to 7.5%

A key factor behind the surge in surplus is likely the central bank’s trading income from its aggressive intervention in the forex market.

BasisPoint Insight

May 23, 2025 at 11:58 AM IST

Anurag Vijay/CC

Opinion

Corporate Houses As Bankers? Not So Fast

India needs more banks, but not at the cost of its financial integrity. Allowing corporate houses into banking risks turning institutions of public trust into instruments of private influence.

Srinath Sridharan

May 23, 2025 at 8:05 AM IST

RBI

RBI Turns Net Buyer In FX Market in March After Five Months Of Selling Streak

BasisPoint Insight

May 22, 2025 at 11:17 AM IST

Record RBI Dividend Payouts Are A Short-Term Fix With Long-Term Risks

Another likely record dividend to the Centre may offer fiscal relief, but could undermine monetary stability and currency management in an uncertain global climate.

Dhananjay Sinha

May 22, 2025 at 4:02 AM IST

iStock.com

LAF@25: Call Money Is A Dissonant Note In A Symphony

The last part of our LAF@25 series explores the evolution of the call money market and how it reflects policy shifts from broader access to tighter regulation.

R. Gurumurthy

May 21, 2025 at 4:07 AM IST

LAF@25: SDF – From A Corridor To A Comfort Zone

Part 2 of our LAF@25 series explores how the Standing Deposit Facility may be steering India’s liquidity corridor towards a de facto floor regime.

R. Gurumurthy

May 20, 2025 at 3:37 AM IST

RBI Need Not Rush To 5% As Liquidity Does The Heavy-Lifting

The RBI has uncoupled its stance from liquidity. That may make aggressive rate cuts less likely, even if monetary conditions stay easy.

BasisPoint Groupthink

May 19, 2025 at 5:56 AM IST

RBI Tweets

LAF@25: The Shifting Core Of India’s Monetary Operations

As the RBI’s Liquidity Adjustment Facility turns 25, this three-part series traces its evolution, limitations, and future as a monetary policy mainstay.

R. Gurumurthy

May 19, 2025 at 5:11 AM IST

iStock.com

Soft CPI Anchors Rate Cut Hopes, Narrows Path To 5.00% Terminal

April’s disinflation surprise resets the debate around where the rate cycle ends and how soon it gets there

Richard Fargose

May 14, 2025 at 2:03 PM IST

Anurag Vijay/CC

April CPI Inflation Lowest Since July 2019, Stays Below RBI Target For 3rd Month

This is the last CPI release before Monetary Policy Committee’s bi-monthly meeting to be held June 4-6.

BasisPoint Insight

May 13, 2025 at 11:42 AM IST

IndusInd Bank Crisis Is A Systemic Warning The RBI Can’t Ignore

The RBI should treat IndusInd Bank’s compliance failures as systemic red flags, not isolated events. Strengthening supervisory tools and embedding a culture of compliance may be overdue.

BasisPoint Groupthink

May 10, 2025 at 3:51 AM IST

RBI’s ‘Stance’ Is Still Standing; But Should It Be Retired For Good?

The RBI clings to its ambiguous stance on monetary policy. In a world demanding clarity, is it still useful, or merely an obstacle to transparency?

Abheek Barua

May 8, 2025 at 1:32 AM IST

Policy Rate Cuts Cannot Flow Freely With High Savings Scheme Rates

High small savings rates are distorting financial signals, muting policy transmission, and placing an avoidable burden on government finances.

BasisPoint Groupthink

May 6, 2025 at 1:13 PM IST

Via WikiCommons

SBI Research Pushes For 50-BPS Jumbo Rate Cuts To Boost Transmission

The benign inflation outlook, coupled with a moderate growth forecast, has created what the bank describes as a “Goldilocks period” for rate cuts.

BasisPoint Insight

May 5, 2025 at 12:29 PM IST

Anurag Vijay/CC

LAF, SDF, MSF - Gupta’s Learning Curve Begins With ABCs Of WACR Vs SORR

The new RBI deputy governor takes charge amid a fluid framework and the push to convert surplus liquidity into transmission. It is more than the alphabet soup of acronyms that confronts her.

BasisPoint Groupthink

May 3, 2025 at 4:25 AM IST

Poonam Gupta Takes Charge As RBI Deputy Governor, To Oversee Monetary Policy

Poonam Gupta’s tenure begins as the RBI undertakes a crucial review of its liquidity management framework.

BasisPoint Insight

May 2, 2025 at 9:15 AM IST

Gold: Security Blanket Or Speculator’s Dream?

Gold’s rise is driven less by fundamentals and more by fear, with central banks and speculators shaping its identity as both safety net and bubble.

R. Gurumurthy

May 2, 2025 at 5:16 AM IST

iStock.com/D. Talukdar

Interview

RBI Has Ample Room To Cut Rates Further, Says MPC’s Saugata Bhattacharya

RBI models showed repo rate at 5.1-5.7%. The MPC member says he leans more towards the lower end of that range.

Rajesh Mahapatra

May 2, 2025 at 4:22 AM IST

Liquidity: Sterilisation, Caution, Or Doubling Down?

FX book chickens come home to roost in 2025-26, and the RBI’s liquidity injections may need to grow even larger to avoid a fresh policy transmission hiccup.

Vivek Kumar

May 1, 2025 at 3:49 AM IST

Is the RBI’s Liquidity Blitz a Signal of Deeper Economic Strain?

An outsized bond purchase plan and aggressive liquidity support hint at a more serious undercurrent: faltering money supply, weak credit momentum, and growth worries.

BasisPoint Groupthink

April 28, 2025 at 4:15 PM IST

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

RBI’s Dovish Turn Comes With A Built-In Speed Bump

The April minutes cement the RBI’s pivot to growth, but Bhattacharya’s caveats point to a stop-start easing path—one markets are willing to live with.

BasisPoint Groupthink

April 23, 2025 at 2:16 PM IST

Growth Trumps Inflation in RBI’s April Minutes

With global shocks mounting, MPC minutes reveal deep concern over India’s growth path. Rate cut, dovish stance and liquidity flood now fully explained.

BasisPoint Insight

April 23, 2025 at 1:14 PM IST

RBI Finalises LCR Norms; Lowers Run-off Rate for Digital Retail Deposits

BasisPoint Insight

April 21, 2025 at 3:46 PM IST

RBI Can Undertake Unprecedented Interest Rate Easing – If It Wants To

With the convenient definitions of real rate and potential growth, the RBI can justify deeper rate cuts than anyone currently expects.

Basis Pundit

April 21, 2025 at 8:51 AM IST

Core Issue With India’s Inflation Isn’t Going Away

India’s headline inflation may have cooled, but seasonal effects mask the stickier rise in core prices—leaving RBI’s policy pivot on shaky ground.

Dhananjay Sinha

April 16, 2025 at 4:58 PM IST

iStock.com/:Radiokukka

RBI

Buffer That Wasn’t Needed And Why That Matters

RBI not triggering a key crisis buffer signals confidence in India’s financial stability—and a bet that growth can coexist with prudence.

Srinath Sridharan

April 16, 2025 at 3:33 PM IST

Gold Loan NBFCs To Face Operational Shift Under RBI’s New Draft Rules: Fitch

BasisPoint Insight

April 15, 2025 at 9:59 AM IST

If Regulator Steps Back, Who Steps In?

Critiques of RBI’s supervision miss the point—robust oversight is not ritual, it’s what shields Indian finance from fragility and failure.

Srinath Sridharan

April 15, 2025 at 7:22 AM IST

RBI

Indian E-Commerce May Get A Peek Of US Market, Fingers Crossed On Red Tape

Scrapping of de minimis exemption for China And Hong Kong Allows Indian Companies An Edge In shipping small items to the US

Ajay Srivastava

April 13, 2025 at 9:13 AM IST

RBI's Supervision Needs Repair, Not Just More Rituals

Repeated lapses in oversight raise hard questions about whether India’s banking stability owes more to chance than to regulatory rigour.

Banker Emeritus

April 11, 2025 at 9:21 AM IST

RBI’s Quiet Fix For IndusInd Works, But Some Transparency Won’t Hurt Either

The RBI’s actions carry a preference for behind-the-scenes coordination, applying nudges or occasional pressure, rather than overt intervention.

Manoj Rane

April 11, 2025 at 7:28 AM IST

RBI

Moody’s Analytics Slashes India’s 2025 Growth Outlook by 30 Bps Amid External Headwinds

BasisPoint Insight

April 10, 2025 at 1:13 PM IST

RBI’s Quiet Confidence Lets Markets Set The Rupee’s Course

As global currencies wobble under tariff pressures, the RBI is betting on India’s fundamentals to anchor the rupee—and avoiding panic interventions.

Richard Fargose

April 9, 2025 at 4:35 PM IST

RBI issues draft rules for gold loans to standardise norms across lenders

BasisPoint Insight

April 9, 2025 at 2:33 PM IST

Monetary Policy

RBI’s Optimism Hinges On Questionable Insular Assumptions

Despite warning of trade risks, the central bank proceeds as if India’s economy exists in a vacuum

Dhananjay Sinha

April 9, 2025 at 1:54 PM IST

India’s Soft Power Can’t Plug A Hard Trade Hole

Services exports and remittances have held up. That doesn't mean India is shielded from China’s export onslaught.

BasisPoint Groupthink

April 9, 2025 at 12:41 PM IST

iStock.com/MAGNIFIER

Monetary Policy

RBI’s Optimism On Growth Belies Tariff Undercurrent

The central bank’s inflation optimism is justified, but its 2025–26 growth forecast feels increasingly out of touch with trade war disruptions.

BasisPoint Groupthink

April 9, 2025 at 9:28 AM IST

Monetary Policy

RBI Chooses Growth Over Inflation As Tariff War Clouds Intensify

The RBI’s shift to an accommodative stance signals a growth-first approach, but its crisis response still feels too mild for the storm brewing.

Abheek Barua

April 9, 2025 at 7:46 AM IST

Anurag Vijay/CC

Monetary Policy

RBI Goes All In On Dovishness, Outdoes Most Dovish Of Pundits

The central bank has done everything the market hoped—and more. What matters now is how far ahead the market decides to run.

BasisPoint Groupthink

April 9, 2025 at 5:46 AM IST

RBI

MPC Review

RBI Rewriting FX Market Playbook Amid Global Turbulence

RBI’s silence as the rupee swings signals a strategic shift—no more one-way bets, no guaranteed defence. The playbook is being rewritten.

Richard Fargose

April 8, 2025 at 9:21 AM IST

Shriram Finance Seeks RBI Nod To Set Up Primary Dealership: Report

BasisPoint Insight

April 8, 2025 at 6:49 AM IST

Monetary Policy

RBI Must Resist Calls To Reopen The Fixed Rate Repo Window

Calls to revive the fixed repo window are gaining ground. The RBI must resist — or risk undoing a decade of hard-won liquidity discipline.

Basis Pundit

April 7, 2025 at 2:44 PM IST

Monetary Policy

RBI Seen Cutting Repo Rate By 25 Bps As Easing Cycle Gains Momentum

Most analysts anticipate a cumulative repo rate reduction of at least 75 bps by March 2026 if inflation remains within the target band.

BasisPoint Insight

April 7, 2025 at 11:45 AM IST

RBI

Monetary Policy

RBI Should Be The Front Soldier After Trump Trade Shock

A seismic tariff shock from the US on April 9 could hijack India’s economic prospects. While this requires a strategic government intervention for risk mitigation, the RBI must be the front soldier to safeguard growth.

Vivek Kumar

April 6, 2025 at 7:59 AM IST

Rupee Steadies As RBI Fires On All Fronts To Calm FX And Liquidity

The rupee’s slide reversed as RBI stepped in with dollar sales, swap deals, and liquidity tools to restore calm without chasing a fixed exchange rate.

Manoj Rane

April 4, 2025 at 3:38 PM IST

Anurag Vijay/CC

Monetary Policy

Reciprocal Tariffs: Brace For Impact

Should the RBI and indeed all central banks see the current situation as primarily an inflation problem or a growth problem?

Abheek Barua

April 4, 2025 at 7:44 AM IST

Govt Appoints Poonam Gupta As RBI Deputy Governor

Poonam Gupta has been appointed as RBI Deputy Governor for a three-year term. She will oversee the Monetary Policy Department, influencing key decisions on interest rates and inflation management.

BasisPoint Insight

April 2, 2025 at 10:33 AM IST

RBI At 90: A Quiet Force Built On Trust, Selflessness, And service

As it marks 90 years, the RBI reaffirms its quiet power — a legacy of trust, selflessness, and unwavering commitment to public good.

Alpana Killawala

April 1, 2025 at 10:31 AM IST

Rangan Datta Wiki/ CC

RBI’s KYC Penalties: A Sisyphean Grind?

Bank penalties for KYC violations have become a ritual. Without systemic fixes, regulators and banks are stuck in a costly cycle of compliance theatre.

R. Gurumurthy

March 31, 2025 at 1:18 PM IST

bymuratdeniz/iStock.com

Earnings Recovery May Stall Under The Weight Of Fiscal Fatigue

Market hopes for an earnings revival rest on shaky ground as fiscal drag, weak job creation and tepid wage growth tighten the income squeeze.

Dhananjay Sinha

March 29, 2025 at 8:27 AM IST

iStock.com/Debjit Chakraborty

India’s Consumption Comeback Story Is Built On Shaky Ground

Official GDP data suggests a surge in household demand. A closer look at wage trends and sentiment reveals that the rebound may be mostly a mirage.

Dhananjay Sinha

March 28, 2025 at 6:16 AM IST

RBI's Rate Cut Fails To Ease Market Rates Amid Tight Liquidity Grip

Despite easing inflation and a long-awaited rate cut, tight liquidity and weak transmission have kept market rates stubbornly high under RBI’s watch.

Manoj Rane

March 28, 2025 at 5:32 AM IST

Why RBI Must Ban Derivative Trades By Bank Insiders

IndusInd insiders traded derivatives while holding price-sensitive data. RBI must stop such conflicts before they corrode trust in the banking system.

Krishnadevan V

March 27, 2025 at 5:07 AM IST

Generalising/via Wikimedia Commons

RBI Raises Cap for Housing, Solar Panel Loans Under Priority Sector Lending

Richard Fargose

March 25, 2025 at 5:37 AM IST

RBI’s FX Swap Draws Strong Demand; Next Move Likely After MPC Meet

BasisPoint Insight

March 24, 2025 at 2:56 PM IST

Anurag Vijay/CC

Tentative Cut Likely Again; RBI May Prioritise Liquidity, Transmission

The RBI may cut rates again in April, but the focus will be on liquidity infusion and stronger pressure on banks to transmit cumulative cuts effectively.

BasisPoint Groupthink

March 20, 2025 at 6:59 AM IST

RBI

RBI Economists Flag Risks As Global Volatility, FPI Outflows Weigh On Economy

External uncertainty and financial market stress pose fresh challenges. The global divergence in monetary policy is also adding to volatility.

BasisPoint Insight

March 19, 2025 at 4:02 PM IST

SEBI's Curbs Keep Indian Investors Out Of Global Markets, Limiting Returns

SEBI’s overseas investment limits trap Indian investors, exposing them to volatility when FIIs exit and denying them access to global growth.

Krishnadevan V

March 19, 2025 at 3:38 AM IST

Jimmy vikas/cc

RBI’s Liquidity Blind Spot: Growth Needs A Clearer Policy

The Reserve Bank of India’s liquidity strategy has unsettled markets and heightened economic risks. A decisive shift is needed to safeguard growth just as inflation appears contained.

G. Mahalingam

March 18, 2025 at 6:56 AM IST

Anurag Vijay/CC

RBI Reaffirms Stability of IndusInd Bank Amid Accounting Discrepancies

BasisPoint Insight

March 15, 2025 at 8:04 AM IST

India’s Policy Shift, Capex Push Power Growth Recovery, Says Morgan Stanley

India’s recovery gains traction as capex surges, monetary easing kicks in, and services exports stay strong. Policy shifts will shape the next phase.

BasisPoint Insight

March 14, 2025 at 5:25 AM IST

iStock.com/lakshmiprasad S

IndusInd Bank - Battling Several Storms

The latest revelation adds to the nervousness following the CFO’s sudden resignation and the CEO receiving a shorter extension.

Sachin Malhotra

March 12, 2025 at 4:41 AM IST

Generalising from Cambridge, UK, via Wikimedia Commons

Financial Market Regulations Should Not Descend To Iatrogenesis

Regulatory tweaks in India's financial sector risk unintended harm—does over-caution cost more than its benefits?

R. Gurumurthy

March 10, 2025 at 11:52 AM IST

Photo by Patrick Hendry on Unsplash

RBI Liquidity: Rectitude, Discretion And King Canute

RBI must maintain core liquidity surplus at 0.5%-1.0% of NDTL in FY26 to ensure credit flow. Durable tools over repo reliance key to stability.

Vivek Kumar

March 8, 2025 at 7:22 AM IST

Anurag Vijay/CC

With New RBI Chief And No Deputy, India’s Policy Clarity Is At Risk

RBI faces a policy vacuum as the key Deputy Governor post stays vacant, leaving a new non-economist Governor to navigate uncertain waters.

Richard Fargose

March 7, 2025 at 2:56 PM IST

RBI website

Market Digest

Equities Settle Higher for Second Consecutive Session; Oil Stocks Rally

An end of the day recap of all that transpired in the Indian markets today, highlighting the major price movements and the factors driving them

Richard Fargose

March 6, 2025 at 12:25 PM IST

Opinion

MPC Must Abandon Neutrality To Reignite Growth Before It’s Too Late

With weakening growth and easing inflation, the RBI must abandon caution to spur investments and the economy.

BasisPoint Groupthink

March 6, 2025 at 6:17 AM IST

RBI Tweets

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

A Volatile Path To A Post-Meltdown Rebound

A rebound in the Indian equity market is certain, but the road to recovery is unlikely to be steady amid deeper macroeconomic pressures.

Dhananjay Sinha

March 5, 2025 at 7:05 PM IST

RBI’s $10 Billion FX Swap Sees Strong Demand, More May Follow

RBI’s record $10 billion FX swap draws $16 billion in bids, signalling strong demand as the central bank balances liquidity and reserves.

BasisPoint Insight

March 1, 2025 at 2:10 AM IST

RBI

Policy Flip On NBFC Rules Adds To Confounding Incrementalism

The rollback of NBFC lending curbs exposes deeper anxieties over rupee stability and structural economic frailties.

Dhananjay Sinha

February 28, 2025 at 4:13 AM IST

Liquidity Boost Or Is it Strategic Play In RBI’s $10 Billion FX Swap

RBI’s largest and longest-ever FX swap aims to inject liquidity, but its broader implications for corporates, hedging costs, and reserves raise questions about whether it is merely a liquidity fix.

BasisPoint Groupthink

February 26, 2025 at 8:10 AM IST

Interview

The Rupee’s Adjustment: RBI’s Dilemma And Market Realities

RBI intervention in the NDF market is essential, although it has some risks.

Kalyan Ram

February 22, 2025 at 7:43 AM IST

Rupee At A Crossroads: Stability, Competitiveness, And The Fragility Of Reserves

India’s reserves are built on capital inflows rather than trade surplus, making them vulnerable to sudden exits.

Abheek Barua

February 16, 2025 at 3:41 PM IST

India’s Fiscal Federalism – Quo Vadis?

Our fiscal federal arrangements are not only not loaded against states, but over time, they have, in fact, been shifting in favour of states.

Duvvuri Subbarao*

January 31, 2025 at 2:57 AM IST

The Bureau

RBI Pushes Back on IMF Remarks

RBI Cuts Rates, Reading Softness Beneath the 8.2% Shine

OMO Injections and VRRR Drains Can Run Side by Side

Expect Little From the Deputy USTR’s Visit: GTRI

Fitch Lifts India Growth Forecast, Expects One Last Cut This Week

Why IBC Resolution-to-Liquidation Ratio has Fallen Again?

November GST Collection Lowest Since September 2024

Sundeep Sikka on Building Team at Nippon MF & the Future of Mutual Funds | Market Makers Part - II

Jallikattu: Tamil Nadu’s Ancient Bull-Taming Tradition