The Indian rupee tumbled the most in three months after RBI lowered the repurchase rate but refrained from shifting to a more easy stance on monetary policy.
Indian polls are unpredictable & ongoing trapeze act of simultaneous fiscal & monetary easing may lead to an accident if investors don’t like makeup of next government.
RBI has allowed banks to dip further into statutory liquidity reserves to help them meet their liquidity coverage ratio needs after Modi govt raised custom duties.
RJD, once a prominent representative of Mandal politics, now finds itself in a political era where welfare, good governance, and new aspirations are overshadowing old caste equations.
Without a Congress revival, there can be no challenge to the BJP pan-nationally. Modi’s party is growing, and almost entirely at the cost of the Congress.
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