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.

Everyone Has a Theory, I Have Losses

Satire

From planetary cycles to calibrated policy, the explanations keep coming. Knowing what to do with my money is another matter. Revised headline and teaser

R. Gurumurthy

October 8, 2026 at 4:06 AM IST

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Three Years to Build a Global Bank?

HDFC Bank’s three-year CEO appointment raises a larger governance question: should regulators determine who is fit to run a bank, or also shape how long its board can retain that person?

R. Gurumurthy

October 3, 2026 at 4:16 AM IST

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When Regulators Become a Source of the Uncertainty they Seek to Reduce

Regulators must act against genuine risk, but frequent rule changes can unsettle markets. Credibility rests on restraint as much as intervention.

R. Gurumurthy

September 29, 2026 at 4:12 AM IST

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Bengaluru Meets Its Newest Driver: Artificial Intelligence

Basis Life

The city that gave India its tech revolution is now preparing to find out whether artificial intelligence can survive its traffic

R. Gurumurthy

September 27, 2026 at 7:52 AM IST

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Diptiprakashpalai/Wikicommons

GIFT City’s Regulatory Paradox

Can GIFT City become truly global without rethinking how it regulates? Its next leap may depend less on new permissions and more on removing unnecessary regulatory friction.

R. Gurumurthy

September 22, 2026 at 3:52 AM IST

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giftgujarat.in

When Regulators Might Be Right but the Timing Might Still be Wrong

Regulatory certainty is not only about what the rule says but also about when the rule is applied and timing of policy changes

R. Gurumurthy

September 18, 2026 at 3:56 AM IST

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Replacing Powell with Warsh Didn't Work, At Least Not Yet

Trump changed the Fed chairman hoping for cheaper money. At the first big test, his new chairman raised rates instead: a reminder that presidents can change the occupant of the Fed, but not the arithmetic of inflation.

R. Gurumurthy

September 17, 2026 at 3:28 AM IST

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US Fed

Micron: When Scarcity Creates Rent, and Everyone Wants a Share

Micron’s AI-driven scarcity has created extraordinary profits. But as workers, rivals and governments seek a share, the real question is how long those rents can last.

R. Gurumurthy

September 14, 2026 at 4:36 AM IST

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Micron

The Serious Business of Being Funny

Basis Life

A good joke does more than puncture power. It exposes hypocrisy, deflates pomposity and reminds us to check the mirror before laughing at others.

R. Gurumurthy

September 11, 2026 at 6:05 AM IST

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When 40% SIP Returns Don't Mean What You Think

For investors, the rule is simple: never be seduced by the percentage alone. Ask what you put in, what you got out, and over what period.

R. Gurumurthy

September 5, 2026 at 7:32 AM IST

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The Hidden Cost of RBI’s $127 Billion FCNR Success

India's $127 billion FCNR swap window looks like a triumph; but who's really paying the hidden cost of that dollar rush?

R. Gurumurthy

September 3, 2026 at 4:16 AM IST

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Who Wants to Be a Bank CEO?

Are regulation, rising complexity and weak succession pipelines shrinking banking’s leadership pool?

R. Gurumurthy

August 27, 2026 at 6:34 AM IST

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Words as Fossils: The Secret History Hidden in Everyday Speech

Basis Life

From Roman elections and medieval prejudice to forgotten gods and discarded science, everyday words preserve the hidden histories, beliefs and biases of vanished worlds.

R. Gurumurthy

August 23, 2026 at 6:58 AM IST

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Via WikiCommons

RBI’s FCNR Reversal Puts Its Guidance Under Scrutiny

The RBI may have had sound reasons to close the FCNR(B) swap window early, but backtracking on a clear assurance undermines its policy guidance.

R. Gurumurthy

August 17, 2026 at 3:48 AM IST

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A Perfect Closing Price Is Not Enough

SEBI’s closing auction may improve price discovery, but early volatility shows that market confidence matters as much as the final price itself.

R. Gurumurthy

August 13, 2026 at 11:31 AM IST

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The Comforting Illusion of Purchasing Power

Purchasing power can adjust prices. It cannot adjust reality.

R. Gurumurthy

August 12, 2026 at 4:05 AM IST

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IStock/RealPictures

The Grime Behind the Dine

Basis Life

The meal may be sealed, spotless and trackable. The reusable bag carrying it home remains food delivery’s least visible hygiene blind spot.

R. Gurumurthy

August 8, 2026 at 5:31 AM IST

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Reopening the UCB Window: Is India Looking to the Past Instead of the Future?

The RBI’s plan to reopen UCB licensing revives an old institutional form even as governance, capital and scale constraints remain unresolved.

R. Gurumurthy

August 6, 2026 at 8:44 AM IST

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A Little Help for Japan and the Return of Managed Currencies

Reported US support for the yen is more than a market operation. It signals the return of coordinated currency management as economic statecraft.

R. Gurumurthy

August 5, 2026 at 3:36 AM IST

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White House/Via WikiCommons

When Eminence Is Not Enough

Opinion

HDFC Bank’s disclosure shows why eminent boards must be judged by their scepticism, regulatory clarity and willingness to intervene.

R. Gurumurthy

July 30, 2026 at 3:07 AM IST

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The Bureau

Is the RBI Behind the Curve?
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In Search of the Lesser Florican
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Maneet Pal Singh