Sunday, June 9, 2013

lobbying week is here

We all know what is lobbying is.

By far, the largest lobbying group I have seen in India is the group of corporate and bank chiefs with tacit or open support from Government of India. The poor victim is Reserve Bank of India. There is a saying in Tamil which goes on like this..Apply.sama, bedha, thana and thanda methods to achieve something. This means do whatever you can to achieve your objective.

This huge lobby group pressurizes RBI by using all these methods to extract favorable monetary policy from Poor RBI who forgets their main mandate. Now next week RBI is expected to come up with their monetary policy for next few weeks. Lobby groups such as 'ready to sell wives for rate cut'  corporates and 'win elections at any cost' politicians are ready to put pressure on RBI governor.

Shameless banker SBI Pratib already started the main song by saying RBI should focus on growth. Why on earth RBI should focus on growth. RBI should not focus on growth. RBI should focus on inflation and currency stability.

However it is expected some emotional blackmailing statements from Chidambaram later this week and also various kind of statements from corporates. Interesting week.

My take is Subbarao will wilt under pressure. Let us see

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