Sourav Majumdar
Read biographySourav Majumdar has been a financial journalist for over 18 years. He has worked with leading business newspapers and covered the corporate sector and financial markets. He is based in Mumbai.
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Hawkish RBI warns of ‘twin deficit’ risk to stability, growth
In a hawkish policy statement unveiled on 31 July, the Reserve Bank of India (RBI) clearly pointed to major threats to macroeconomic stability and growth unless the ‘twin deficits’ the economy faces are narrowed. The central bank said the twin deficits of a current account deficit (CAD) and a ballooning fiscal #MonetaryPolicy #PolicyWatch #Rate Cuts #RBI
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Message from Mint Road: Inflation still enemy number one
As expected, the Reserve Bank of India did not cut the key benchmark lending rate - the repo rate - or the cash reserve ratio (CRR), the proportion of deposits banks park with the central bank, at its mid-quarter review of the monetary policy on 31 July. Instead, the central bank #PolicyWatch #Rate Cuts #RBI
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Why Subbarao may not be willing to surprise just yet
The Reserve Bank of India's policy review meeting slated for 31 July now has economists and policywatchers in animated discussion about whether this time the central bank will reduce key interest rates once again, having resisted doing so at its last meeting on 18 June. However, going by present indications #ConnectTheDots #D. Subbarao #RBI
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UK, emerging economies hope to capitalise on London Olympics
Even as the curtain is about to lift on the London Olympics 2012, a survey has found businesses in emerging markets most value the ability of big sporting events to attract investment to their economies, whilst counterparts in developed economies view them as less important. According to new research from the #Investment #London Olympics #OnOurMind
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Why Subbarao will be watching the skies and a lot more
There seems to be just a trickle of somewhat pleasant news coming on the economic front these days. After the Index of Industrial Production (IIP) reading of 2.4 percent for May, the June inflation number at a lower-than-expected 7.25 percent will lead to some relief in policymaking circles. The inflation number #Inflation #PolicyWatch #RBI
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IIP OK, but forget about a rate cut
The Index of Industrial Production (IIP) number for May shows a 2.4 percent growth, against a contraction of 0.9 percent in the previous month. This is above what the Street expected—around 1.8 percent—but a closer look at the figures suggests there are still several pressure points which continue to plague #D. Subbarao #Government #IIP #RBI #ToWhatEffect
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SBI chief has faith in Mallya, but how will he get the money?
State Bank of India Chairman Pratip Chaudhuri’s words must come as music to beleaguered liquor and airline baron Vijay Mallya’s ears. Chaudhuri, whose bank has the largest exposure to Mallya’s struggling airline Kingfisher, was reported to have said in a recent television interview that the bank still had faith in #Endgame #Kingfihser's Crisis #Vijay Mallya
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Innovative promos keep Brand Wasseypur alive for sequel
Over the past few days, people have been finding strange pamphlets inserted into their morning papers. On one such pamphlet, Wasseypur Mazdoor Vikas Party’s Ramadhir Singh stares at you, with his election symbol, a pickaxe, with the menacing lines: "Mazdoor paida huye, mazdoor hi maroge, vote na diya humey toh zinda
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Positive signs: Is the economy nearing a U-turn to better times?
An industrialist who heads a multi-sector conglomerate admits that the real signs of a slowdown have been pinching his companies over the past two months. However, when asked whether he wants to sell one of his companies, he quickly retorts: “Oh no! In fact, we are buyers. At this point #DealStream #India Inc #investment bank #Pranab Mukherkee
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Foreign firms in India hit by rupee fall, but CAD is peaking
It’s not just the Indian importers who are a battered lot, thanks to the sharp depreciation of the rupee; foreign companies with large Indian operations are also very badly hit, as the Indian currency’s slide tells on their profitability in dollar terms. But equally, analysts are wondering whether the declining #CAD #exports #HSBC #rupee-dollar #Stanchart #Suzuki Motor #Unilever