Nepal’s Disasters Expose a Missing Link in Infrastructure Finance

Nepal’s reconstruction challenge raises a bigger question: can infrastructure finance prevent the next loss, rather than simply paying to rebuild after disaster strikes?

A Divided Washington May Offer Markets Little Relief

Democrats’ gains could restrain Trump in Congress, while fiscal battles and renewed conflict with Iran threaten another shock to risk assets

Is AI in Inflation? Should Central Banks Care?

Global economies are quantifying AI’s effect on inflation, and whether the current inflationary phase will give way to productivity gains.

India’s Exports Show Resilience in April-September, but Concerns Remain

Sectors that have not recovered from geopolitical shocks need to be revived, and policies to support them put in place. Also, India needs to look beyond traditional trade partners and tap new markets

The Long Road to a Woman's Workplace

Free bus rides may save women money, but can they unlock better jobs? The hidden costs of commuting, caregiving and unequal mobility reveal a bigger barrier.

Market Vigilantes and Central Bank Mandates

Currency pressure strengthens the case for separating government debt management from the RBI’s monetary policy and regulatory roles.

Can Bond Vigilantes Prevent the Next Debt Crisis?

With interest rates on government debt having gone from near zero to much higher levels in recent years, rising short- and long-term bond yields have cast doubt on the sustainability of some debts and led many to wonder if a crisis might be looming. While some countries are more protected than others, none is immune.

The Rupee in the Age of Digital Dollarisation

India must address the domestic weaknesses undermining its currency while building guardrails against a new source of dollar dependence: digital money.

Masterclass with Michael Patra

The Forces That Set Exchange Rates and the Regimes of the Rupee

Michael Patra explains the underlying principles of exchange rates, how they shape the economy, and how the rupee has undergone regime shifts.

The Anchor of Memory: Why October 27 Must Remain the Bedrock of India’s National Security Consciousness

Peace Must Not Erase Memory: It is a reminder of the sacrifice, resistance and choices that shaped India’s security in J&K.

Rising Yields Signal Dislocation, Not the Market Doing the RBI’s Work

Surging bond yields signal dislocation amid policy uncertainty. Investors may find value, but traders face rallies vulnerable to renewed selling

Opinion

AI Eats Strategy and RBI Reserves for Breakfast

AI is weakening the forex economics of India’s services engine, while RBI reserves and FCNR liabilities buy time for a difficult external-sector transition.

The RBI Has an Information Advantage; it is not in any Panic

The RBI’s information advantage helps explain its pre-emptive rupee measures and their role in preserving orderly market functioning.

Nirmala Sitharaman, Retail Investors and the Great Indian Wealth Transfer

Are India’s retail investors powering a great wealth transfer, giving FIIs and promoters an easy exit at rich valuations while also adding pressure on the rupee?

Delimitation Is Back in Focus: Can the BJP Get It Through This Time?

The BJP wants to revive delimitation after its April defeat. But balancing equal representation with southern states’ concerns will require more than parliamentary arithmetic.

Masterclass with Michael Patra

International Dimensions of Monetary Policy

Michael Patra explains how exchange rate regimes shape monetary policy independence and why global forces constrain domestic policy choices

SEBI’s Auction Rethink Shows Why One Price Cannot Serve Every Purpose

SEBI’s closing auction may improve price discovery, but that does not automatically make the same price the best benchmark for derivatives settlement.