Articles by Madan Sabnavis
May 04, 2017
New NPA package for banks makes RBI more powerful; it's a move in the right directionFor the bankers, RBI becoming party to NPA decision is good. They can cast aside the fear of being hunted by vigilance department for taking a high hair cut. That will be RBI's headache.
Apr 18, 2017
IMD sees normal monsoon this year: Good news for GDP, but don't rush to celebrate yetThe monsoon forecast is critical for us since around half of India’s agricultural production consists of kharif crops which are largely rain-fed.
Apr 13, 2017
FRBM recommendations: Why blind obsession for fiscal deficit targets could hurt growthThe new FRBM leaves the rules open to interpretation, which in a way is good from the practical view point
Apr 07, 2017
RBI monetary policy takeaways: What the central bank thinks of growth, NPAs, liquidityGiven that banks have closed their accounts in March, the market was keen to get a clear number on the demonetisation exercise in terms of the return of old notes to the system.
Mar 30, 2017
GST Bills passed in Lok Sabha: Will the implementation now be another Indian ‘jugaad’?The challenge really begins now and getting the system moving from July is fairly audacious as these ends appear not to have been tied
Mar 16, 2017
RBI's biggest challenge will be currency stability as US Fed hints at more rate hikes in 2017The dollar is expected to strengthen further in the course of the year, and hence while interest rate policy per se may be less affected by this development, currency stability will dominate the discussion tables at the RBI
Mar 11, 2017
Banks to charge on cash withdrawal and deposits not fair, RBI should step inWhen a bank sinks, the concern is that deposit holders are affected and not the shareholders. The bank is never put in the dock when bad lending decisions are taken and NPAs increase
Feb 28, 2017
October-December GDP at 7%: How to decode baffling but assuring growth despite demonetisationWhile the picture is much better than expected the fundamental questions that have to be addressed remain.
Feb 02, 2017
Seven misses in Budget 2017 math: How Jaitley may have created a huge buffer for spendingThere are some misses in the presentation which could have been addressed but have been kept aside.
Jan 31, 2017
Economic Survey takeaways: What it really says about note ban impact, Union Budget 2017The survey is candid in pointing out that there will be a slowdown in growth this year too which will be between 25 to 50 bps lower than their baseline projection of 7%