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4402 ArticlesDeepak Shenoy

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My name is Ben, and I’m a Central Banker.

Five years ago, the economy was in trouble. We decided that the best way for the economy was for us to buy all this mortgage stuff that other people didn’t ...

NSEL: The 5,500-crore Scam No One Wants to Deal With

Originally written for Yahoo. An innocuous-looking notification from the Forward Markets Commission (FMC) came in on July 12, 2013. And in the offices of the ...

Weekly Digest: Increasing Volatility, “Real” Nifty Weakness, Rajan’s Day Out

Near Record Number of 4% Weekly Moves in the Nifty; 2013 Brings Volatility Back Oh, Volatility is here. I had written in April that we were seeing unusually ...

Near Record Number of 4% Weekly Moves in the Nifty; 2013 Brings Volatility Back

Oh, Volatility is here. I had written in April that we were seeing unusually low volatility for what should be a much more squiggly index, with zero 2% days in ...

Underwriting Commissions for G-Sec Bond Auctions Go Up Again For the Monday Auction

Banks and Primary Dealers that have been underwriting government bond auctions have been getting great commissions recently. They have now earned over Rs. 440 ...

The “Real” Nifty, Adjusted for Inflation is 32% Below its 2007 Peak

When you adjust for inflation gains look terribly low. Inflation is how much your money’s purchasing power reduces. So you have to adjust for that, so ...

Chart: Credit Growth Increases to 18%, Raising Rates Correct Option

Why are people cursing Rajan for raising rates? Credit growth is back to 18%+ as of September 6, and credit growth of that rate means one of two things: Banks ...

Rajan Bites The Bullet, Raises Repo Rate 0.25%, Untwists Yield Curve

Dr. Raghuram Rajan has raised the repo rate (overnight borrowing rate for banks) by 25 basis points (0.25%) to 7.5%.   Banks which were required to keep ...

What Will Rajan Do Today?

Short Answer: Only Rajan Knows. Long Answer: Only Rajan Knows, and it’s useless to predict it. The pieces of data that Rajan will use are what we’ve seen ...

Snapshot: Massive Upmove Due to Fed, but Banks Shine Nevertheless.

We’ve just had a +3.7% day, and this brings us fairly close to the all time high. And if you look at various sectors, banks shine as outperformers. Banks did ...