Jerome Powell’s restraint under sustained political pressure shows that central banking credibility is shaped as much by conduct as by policy.
R. Gurumurthy
White House
BasisPoint Insight
Despite upbeat forecasts, India faces oil shocks, climate risks and trade disruptions. The real challenge lies in navigating unseen fault lines.
Sharmila Kantha
Istock.com
India’s digital finance ecosystem has expanded rapidly, but evolving risks around credit, data, and security now require regulation to adapt in step with scale.
Michael Debabrata Patra
iStock.com
ECL shifts Indian banking to forward-looking provisioning, strengthening resilience and risk pricing, but hinges on data depth, governance rigour, and model discipline.
K. Srinivasa Rao
History shows that confidence narratives cannot mask fragility. When rhetoric diverges from reality, markets punish with lost trust and slower recovery.
V Thiagarajan
From rupee stress to AI courts and oil shocks, what gets stabilised often carries hidden costs, while trust, not control, quietly determines what holds together.
Phynix
As the rupee weakens and portfolio flows turn volatile, the RBI is doubling down on FDI and trade deals to anchor India’s external financing.
BasisPoint Groupthink
RBI’s proposal on delaying instant payments risks hurting users while missing the real issue: weak KYC and mule accounts. The fix lies in smarter, real-time safeguards.
Rajesh Bansal
A stronger services surplus masks a quieter shift, as weaker capital inflows reshape India’s BoP and raise new policy and market risks
Shubhada Rao, Vivek Kumar, and Yuvika Singhal
Our hearts may go out to those who struggle with KYC requirements, but we can’t expect bankers to ignore the rules. However, lessons in situational empathy may be appropriate.
Mint Owl
The RBI’s clarification on upper-layer NBFCs places principle above pedigree. How Tata Sons responds will define the boundary between legacy privilege and regulatory certainty in India.
Srinath Sridharan
tata.com
The rupee debate fixates on visible costs, ignoring hidden fiscal risks, political compulsions and market psychology that make inaction far riskier.
Vivek Kaul
India’s push to monitor offshore rupee trades may improve visibility but also risk regulatory friction, investor unease, and unintended capital-flow consequences.
A cautious, divided Fed has delayed easing just as global risks rise, leaving the RBI with less room to manoeuvre or defend the rupee
US Federal Reserve
As shocks ripple through markets, politics and resources, systems fray and adapt, revealing fragile but persistent coherence in unexpected places.
Forced FX unwinds have imposed losses, but the deeper impact is behavioural. Markets may turn cautious amid concerns about risk, liquidity, and RBI initiatives.
The RBI calls IDBI Bank a private sector lender. Why maintain this classification when the government and LIC hold nearly 95% of the bank?
T. Bijoy Idicheriah
Via WikiCommons
J&K Bank is classified as a private sector lender, but its majority owner is the government. That contradiction has never been fully resolved.
Michael Patra is an economist and former RBI Deputy Governor.
Arun is a seasoned writer on economic and policy matters.
Abheek is an Independent Economist and the Former Chief Economist at HDFC Bank.
Ajay Srivastava is the founder of the Global Trade Research Initiative.
Vijay Singh Chauhan, a former IRS official, is a Senior Visiting Fellow at ICPP, Ashoka University
Dhananjay, a D-School alum, is CEO and Co-Head of Equities at Systematix Group.
Kriti is a psychologist specialising in mental health, org behaviour, and brand strategy
Srinath is an author, corporate advisor, and independent director on corporate boards.
Ex-civil servant Chavaly held key Railways, Finance roles; specialises in infra & PPPs
Nilanjan Banik, Professor at Mahindra University, specialises in trade and development economics.
Rahul Ghosh is a banking and risk expert.
Rajesh Mahapatra is the former Editor of The Press Trust of India
Krishnadevan is Editorial Director at BasisPoint Insight.
Chandra advises companies on big-picture narratives on strategy and markets.
Kalyan Ram co-founded Cogencis. He now leads BasisPoint Insight.
Gurumurthy is an ex-central banker who handled markets, and later, financial stability for RBI.
Arvind Mayaram, former Finance Secretary, is Chairman of the Institute of Development Studies, Jaipur.