Wednesday, August 21, 2013

RBI is goofing up further :(

They say Raghuram Rajan is appointed as officer special duty to RBI. But the effects are not visible or shall I say it is working contrary to our belief?

RBI apparently expecting short term results decided to inject money again into the system (yes, the same Indian banking system which they think are punting in Dollar and thus eroding Rupee value) to the tune of 8000 crores. They panicked by seeing the short term bond yields going up. These guys will never learn the lessons.

They say Raghuram Rajan is inteligent and will do the necessary for the economy. But it seems he is panicking more than others.

Equity markets are shaky
Bonds markets are shaky
Commodity markets , the less said it is better

Raghuram Rajan should know one thing. He should not try to emulate Chidambaram's method of talking up the market on day to day basis.

As mango rightly predicted 2 days back, RBI allowed our banks to make adjustments in their bond portfolio so that they need not make provisions for 40000 crores loss they made in 1 month. long live Indian Banking System and RBI.

Now what next?

RBI, Can you save markets for 2-3 days due to this measure? Do you know, by this measures you are still accentuating the issues?

I wonder still nobody in this government is talking about over priced real estate which is the root cause of all the evils. But I salute the real estate brokers for the influence they have in the current establishment.

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