Discover and read the best of Twitter Threads about #RBI

Most recents (24)

#rbigovernor Press meet pts:
- MPC advanced its mtg, evaluated macro economic conditions
- Voted for a 75 bps repo rate cut, 4-2 majority
- 5.15% to 4.4%,
- Reverse Repo rate reduced by 90 bps to 4%
- done this imbalanced cut for banks to support lending

#economy #Markets
Contd.
- Need to support growth considering economic conditions
- Will fight #COVIDー19 with measures available
- RBI is at work and in mission mode, monitoring financial conditions, will provide additional liquidity support
- will work for financial stability

#rbigovernor #RBI
Contd.
- FY20 GDP estimates given by CSO is at risk 🙄
- To contain intensity, spread of #CoronavirusOutbreak
- FY21 estimates at great risk
- Risk factors: Supply chain disruptions too high, upside growth impulses through fiscal & monetary policies
- Food inflation to soften.
Read 12 tweets
Debt Markets facing lack of buyers: Since 9th March, 1 yr CD rates have gone up by 50 bps, 2-3 yr AAA PSUs yields have gone up by 50-100 bps, blue chip HFCs like HDFC bond yields have gone up by 70-80 bps & 10 yr corp bond yields too by 50 bps
This is a good time to capture higher yields in AAA rated PSU/Corporate Bond schemes following Constantly Rolling Down strategy with longer duration and no #CreditRisks.
When most Central Banks have cut rates aggressively, #RBI has still kept this option in its armoury and only announced liquidity infusion of Rs.1 lac crore thru LTRO.
Read 7 tweets
1. In the back drop of @YESBANK Bank fiasco and total write off of AT1 Bonds issued by them, it is necessary to understand what is AT1 (aka Perpetual Bonds) and what should the Investors expect. This crisis will have far reaching implications for all future AT1 issuances as well
2. What is AT1 Bonds? An AT1 bond constitutes direct, unsecured and subordinated debt in the issuing bank, ranking junior to the claims of all creditors (including all subordinated creditors) and only senior to common equity. Please remember this
3. Total outstanding of all AT1 issuances by all Banks is close to 91,000 crores (including Rs.38,000 crores by Private Sector Banks like ICICI Bank, HDFC Bank, Axis Bank, Yes Bank, etc.). These figures are as of 23-02-2020
Read 15 tweets
Prioritising Equity over AT1 bond holders in #YesBank draft resolution is a first in this country!
In all fairness @RBI is setting up a bad precedent for the bond industry by subverting their rights. Critical takeaways:
1) Scares away a potential source of capital for all banks
2) Existing AT1 holders will start dumping their stock in fear of similar subversion in future as well.
3) This can lead to a potential escalation in yields. Raising Cost of capital in future for other players
4) There have been cases of PSU bank mergers previously as well
But never have AT1 bond holders suffered like this. Even the interest payments were not missed, leave aside capital being eroded.
5) Completely marking down the value to zero and keeping equity at 10Rs is not a legally tenable course of action.
Read 6 tweets
Coronavirus and India - A thread about the distribution and impact of Coronavirus -

Coronavirus, started in China, is now spreading around the world. India is not decoupled with other nations with regards to the spread of Coronavirus.
Let’s see the distribution & impact of this deadly disease -

#CoronaOutbreak #Coronvirus #ItalyCoronavirus #irancoronavirus #indiacoronavirus
Globally, about 3.4% of reported COVID-19 cases have died. By comparison, seasonal flu generally kills far fewer than 1% of those infected. Check out the Virus & Human death rates -

#COVID2019 #swineflu #SARSCoV2
Read 13 tweets
1)Dear PM @narendramodi Ji,

U claim the Armed forces is like family to you, but the #CAGReport tabled in parliament speak a different story

Spend 5 Minutes to think, they Guard our borders 24x7, 365 Days year, so that u can sleep peacefully+

google.com/amp/s/theprint…

@ItiTish
2) It's unfortunate how the @adgpi is being treated under your rule

The Nation wants to know, Why is defence budgets cut, knowing we can't compromise on the country Security, why there is no money for the Armed Forces, where is all the money going+

@RK_Insight @priyapyadav18
Read 8 tweets
#BSNL started booking net Loss'es post 2008-09.

Who's responsible ?

17-18: -7,993
16-17: -4,793
15-16: -3,880
14-15: -8,234
13-14: -7,020
12-13: -7,884
11-12: -8,851
10-11: -6,384
09-10: -1,822
08-09: +575
07-08: +3,009
06-07: +7,805
05-06: +8,939
04-05: +10,183

#ProfitAndLoss
#AirIndia started booking net Loss'es post 2005-06.

Who's responsible ?

17-18: -5,338
16-17: -6,282
15-16: -4,311
14-15: -6,280
13-14: -6,280
12-13: -5,490
11-12: -7,560
10-11: -6,865
09-10: -5,552

08-09: -8,439
07-08: -9,236
06-07: -541
05-06: +15
04-05: +96

#ProfitAndLoss
#HAL's Profit Before Tax (PBT) is consolidated during the years.

How can someone say that Modi ruined 'HAL' ?

18-19: +3,628
17-18: +3,323
16-17: +3,583
15-16: +3,207
14-15: +1,679
13-14: +3,661
12-13: +3,768
11-12: +3,329
10-11: +2,840
09-10: +2,617

#ProfitAndLoss
Read 7 tweets
#ZeroMDR 1/ Since 2006 I have been the bigget believer and proponent of in digitizing payments - ideally via mobile payments - lord knows I've preached this more than anyone else has! Even my 83-year-old mother is a convert, and I literally refuse to pay anyone in cash!
#ZeroMDR 2/ The benefits of #digitalpayments are spread across a large ecosystem - notably the government, merchants, consumers, banks & Payment Systems Providers (PSPs).

The costs of digital payments are today borne by the banks & PSPs - who pass them on to merchants!
#ZeroMDR 3/
Indirectly merchants pass these on to consumers & have a blended cost. Some explicitly pass these costs to the consumer as a "surcharge".

Today's incentive alignment ensures that cash will continue to be the most (financially) attractive for face2face payments!
Read 18 tweets
India MPC - Initial thoughts
1. No cut was a surprise. I had gone in with 35!
2. Looks like the RBI listened to the market which has been saying that further cuts will not help revive growth.
3. Clearly RBI is satisfied with transmission - 137 in call money and 218 in CPs! /1
India MPC - Initial thoughts
Contd.

4. Inflation per RBI seems a much greater risk than the market sees it. H2 revision from 3.5-3.7 to 4.7-5.1 is massive!
5. Growth revised down from 6.1 to 5 but there is belief that whatever the govt is doing to revive growth is /will work /2
India MPC - Initial thoughts
contd

Bonds have expectedly sold off more than 10 bps. Expect 10 yr to settle around 6.50%. Rupee seems unchanged at 71.57 and Nifty is holding above 12k.
/3
Read 4 tweets
#Moodys has pulled down its growth forecast for FY19 to 5.8%. Only surprise is why it’s not even lower. In the past year growth has collapsed from 8% to 5%. /1
@threadreaderapp

#India #CPI #GDP #RBI #bonds #inflation #ratecut #NBFC #jobs #credit #NPA #NCLT #growth
On the other hand #CPI is now at 4.6%. The laxmanrekha of 4% has been breached. A mix of drought, floods and unseasonal rain is driving food prices up. Core #inflation continues to fall to 3.7% reflecting the slowdown. /2
#India #GDP #RBI #bonds #ratecut #NBFC #jobs #credit #NPA
The wisemen and women of the economy have only one mantra - Cut, Pray, Hope. When in doubt cut rates.135 bps done but transmission is limited. We are told don’t look at nominal, real rates are still high. A single large cut is required. /3
#India #CPI #GDP #RBI #bonds #inflation
Read 16 tweets
1. As the daily hysteria about the decline of Indian economic growth continues , I'll share few unorthodox theories and interesting data trends about everything economic development and...
theprint.in/national-inter…
2...and some of the many fixes—some straightforward and obvious to everyone and some not so much—India can pull to prevent going down the road of low growth rates and start imitating the growth pattern of China, South Korea and Taiwan. #indianeconomy #economicdevelopment #india
3. Most economists earn their living working in sectors that are free of market forces and end user criticism. So time to time we have to dunk on the economists worldwide for being so inept at what they do and for making the subject crude, out-of-touch with reality and...
Read 139 tweets
Hearing the RBI Guv and the #Fed Chair talk over the past 24 hrs two interesting differences come through. Dr. Das is much more confident though reserved in committing to numbers. Jay Powell is more transparent but does not exude confidence in his words. /1

#RBI #India #ratecut
RBI Guv was quite clear that there is limited fiscal space. Wanted spending esp of PSUs to be front loaded. /2

#RBI #India #ratecut
On bond yields he felt the recent spike in yields was largely specific, external event driven. /3

#RBI #India #ratecut
Read 10 tweets
🍂#RBI Surplus Reserve Myths

👳RBI ശേഖരം, സർക്കാർ ചോർത്തിയോ? സാമ്പത്തികമാന്ദ്യസിദ്ധാന്തത്തിൽ പൊലിപ്പിക്കുന്ന ഉടായിപ്പുകൾ...

🍍കരുതൽ ധനശേഖരം ചോർത്തുന്നു അഥവാ വിത്തെടുത്തു കുത്തുന്നു. ഇത് കേൾക്കാത്തവർ ആരും ഇപ്പോൾ കാണില്ല. ഇതും പാടി നടക്കുന്നവരിൽ പലർക്കും സ്വയം നല്ല ബോധ്യമുണ്ട്..
..തീർത്തും വസ്തുതാവിരുദ്ധമായ, അത്യന്തം ദുരുദ്ദേശപരമായ, ഇന്റഗ്രിറ്റിയുടെ കണിക പോലും തൊട്ടു തീണ്ടാത്ത പ്രചാരണമാണ് തങ്ങൾ നടത്തുന്നത് എന്ന്. എന്നിട്ടും രാഷ്ട്രീയോന്മാദത്തിന് അടിപ്പെട്ട് അങ്ങ് പടച്ചു വിടുകയാണ്.🙆

👳എന്താണ് യാഥാർത്ഥ്യം....?
👇#യാഥാർത്ഥ്യം മനസ്സിലാവാൻ വലിയ ആർഗ്യുമെന്റുകളുടെ ആവശ്യം ഒന്നും തന്നെയില്ല. അൽപം നിയമവും ചട്ടവും മനസ്സിലാക്കണം. അത് ചുമ്മാ ഒന്ന് ഗൂഗിൾ ചെയ്താൽ ലഭ്യമാണ്. സൗകര്യത്തിന് വേണ്ടി സ്‌ക്രീൻ ഷോട്ടുകൾ താഴെ കൊടുക്കുന്നു. പിന്നെ വേണ്ടത് ഒരൽപം ഡാറ്റ ആണ്. അതും ഇന്ന് വിരൽത്തുമ്പിൽ ലഭ്യമാണ്. 😎
Read 27 tweets
கடந்த காலங்களில் மத்திய அரசு ரிசர்வ் வங்கியிடம் பெற்ற உபரிநிதி எவ்வளவு?

ns7.tv | #SurplusTransfer | #RBI | #CentralGovernment ( 1/3)
கடந்த காலங்களில் மத்திய அரசு ரிசர்வ் வங்கியிடம் பெற்ற உபரிநிதி எவ்வளவு?

ns7.tv | #SurplusTransfer | #RBI | #CentralGovernment ( 2/3)
கடந்த காலங்களில் மத்திய அரசு ரிசர்வ் வங்கியிடம் பெற்ற உபரிநிதி எவ்வளவு?

ns7.tv | #SurplusTransfer | #RBI | #CentralGovernment ( 3/3)
Read 3 tweets
(1/n) Among many things addressed today in Finance Minister's Meet with Press, she addressed there will be development of Credit Default Swap (CDS) Markets in consultation with @SEBI and @RBI RBI. This step was taken following the credit events of IL&FS, DHFL etc in past yr
@sebi @RBI (2/n) Now what is Credit Default Swap (CDS)/ Markets?
CDS is kind of an insurance against a risk of default on a loan by a company. Company – reference entity, default – credit event.
@sebi @RBI (3/n)Why will a seller do that? Coz under such contract buyer will pay a regular amt to seller 4 protection he has bought for his bond, incase of a credit event. Seller will gain incase there is no credit event since he has got regular payment from buyer for his ‘protection’.
Read 17 tweets
#Thread

While the Niti Aayog is still struggling to understand what cracked the Indian economy and how, heres a brief summary of our 2016 report explaining in detail the geoeconomic threat including its origins & what made the situation even worse & why its happening now!
The seeds for current economic situation in India were sown in 80s by US President Ronald Reagan. He economic reforms said tax policies that benefit wealthy will create “trickle-down” effect to poor - trickle-down economics or voodoo economics #Reaganomics greatgameindia.com/global-war-cas…
These strategies of #Reaganomics were born of the #ColdWar and Reagan’s 1983 “Evil Empire” speech set the tone for a more aggressive US posture against the Soviet Union. The result was a series of top-secret national security decision directives (NSDDs).
Read 9 tweets
#Crypto v.#RBI

Hearing of Crypto case has resumed.

Mr. Shyam Divan, Ld. Sr. Advocate started his arguments for RBI.

Most likely the arguments will conclude today.

This coverage is #powered by @coindcx
The counsel for RBI is reading the IMC report.

And reading out the disadvantages of Crypto.

The judge interrupts and asks how you are concerned with the consumer protection, it is not your concern. It is Govt. concern and not yours.
The counsel is briefing about the suitability of ban with the example of China.
Read 70 tweets
#Crypto v.#RBI

Matter is listed in Court no. 5 as item 1 today. Court has resumed.

Crypto case hearing has started.

Mr. Ashim Sood started his arguments.
Mr. Sood is arguing that the action of RBI is against the doctrine of proportionality beside being based on no study whatsoever.
Mr. Sood now explaining the law formulated by Wyoming (USA) to regulate Crypto assets and custodial services (Exchanges).
Read 75 tweets
#Crypto v.#RBI

Case is listed in Court no
4 as item no. 1 today.

Court about to be resumed in few minutes.

After the Court starts, few minutes will go in dealing with "urgent mentioning" matters.

Stay tuned..
The Court resumed. Urgent Mentioning matters are being dealt with.
Crypto case hearing has started.
Read 51 tweets
1/ My views in EconomicTimes on #Libra: “If @facebook were to design the Libra to be a closed system, only to be transacted on its network and not beyond, #RBI should ideally be less concerned, since the #coin does not engage with the external economy” bit.ly/2Ro8jpC
2/ “If it is not meant to operate in a closed system, then it is exactly the kind of #DigitalAssets that concerns RBI. #regulations as currently drafted seem to indiscriminately apply to both the above examples.”
3/ "The argument that this is a #stablecoin — a #cryptocurrency whose value is pegged to be as stable as the dollar — is unlikely to pass muster with the banking regulator, due to concerns around tax evasion, money laundering and fraud" @ikigailaw
Read 3 tweets
If we, as a country, need to feel ashamed of having voted #NarendraModi to power, it should be for 2014

No way how 12 yrs/ Godhra shd have been erased from Indian collective memory in greed for greater GDP growth+higher paying jobs

EVM + #not Indians are voting Modi 2019
To punish us for our Godhra-genocide amnesia

▪️GDP plunged to the extent that absolute numbers were constantly conjured up + growth faked by tweaking base
▪️Instead of higher salary, jobs were lost following
#Demonetisation #GST
▪️Hate speech, lynching, riot-accuseds took over
Best proof of 2014-2019 pathetic corrupt performance of NarendraModi

▪️Gag #EC via a compromised CEC with family in corruption-litigation

▪️Sack #CBI chief to protect self from conviction

▪️Raghuram Rajan, Urjit Patel taken care of, insert ShaktikantaDas to claim #RBI reserves
Read 22 tweets
2012 முதல் 2016 வரை இந்தியாவின் பொருளாதார மிக வேகமாக இருந்தது.பண மதிப்பிழப்பும், ஜிஎஸ்டியும் நாட்டின் பொருளாதார வளர்ச்சியைப் பாதித்துவிட்டது.

- முன்னாள் ரிசர்வ் வங்கி கவர்னர் #ரகுராம்ராஜன் விளாசல்

#RBI #RaguRamRajan #BJP #indianeconomy
சர்வதேச அளவில் நாட்டின் பொருளாதார வளர்ச்சி உச்சத்தில் இருந்த நிலையில், இந்த இரு அதிர்ச்சியால் வளர்ச்சி திடீரென சரிந்தது.25 ஆண்டுகளில் 7 சதவீத பொருளாதார வளர்ச்சி என்பது மிக மிக வலிமையானது.

#RBI
#IndianEconomy #BJP
#RaguRamRajan
கடந்த 1991-ம் ஆண்டுக்குப் பின் கடந்த 25 ஆண்டுகளில் இந்த வளர்ச்சி என்பது வியப்புக்குரியது.உண்மையில் இந்த 7% பொருளாதார வளர்ச்சி என்பது இளைஞர்கள் அதிகமாக இருக்கும் தொழிலாளர் சந்தைக்குப் போதுமானதாக இருக்காது.அதிகமான வேலைவாய்ப்புகள் அவசியம்.
#RBI #IndianEconomy #BJP #RaguRamRajan
Read 10 tweets
The ghosts of 2008 are back. We had #Lehman. Today we have #ILFS and #RupeeAt75. The bulls have given up. #Sensex is down 4500 points in 25 sessions. As shared by @Prashanth_Krish over 50% of stocks traded on NSE are down 50% or more. Friday’s fall would have made it more brute.
Most of serious investors are fully invested. With the kind of sell-off witnessed in #Bajaj twins, #HDFC twins, #Reliance, #Kotak, quality midcaps/largecaps, no one is spared. Even Portfolios of respected investors like Rakesh J, @porinju, @VijayKedia1, SP Tulsian are down!!
In 2017 everyone made easy money. 2018 made you realise how difficult it is for traders and investors to make money in #stocks. I wish @adhia03 realises the gravity of his mistake by imposing #LTCG by referring stock markets as easy money making medium. #Nifty #Sensex
Read 27 tweets
An #unprecedented Great Game
By @narendramodi is making the #Chinese designs of #string_of_pearls A Big fail

👉Do you know how a #WeakRupee& #HighPetrolPrices in India is making #China anxious???

Please read this #Thread till end #RightFactsThread 🙏🙏

1/n
#China is building its #SilkAndBeltRoad project..& in its garb it is encircling India withThe Strings of pearls.

China is doing this with its sheer money power, by literally BUYING bases in India-Pacific region

Thankfully #TheUSChinaTradeWar provides India an opportunity.

2/n
👉China first Time in 20yrs faces a current account deficit and that too of $28.3 billion😀

👉Thus investments in string if pearls is hampered 💰🚫

👉The exports of China to the US & US to China is vacating a huge space

Now the #RealGame starts of @narendramodi and #RBI

3/n
Read 7 tweets

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