Madan Sabnavis
 "Madan Sabnavis")
Madan Sabnavis
Madan Sabnavis is chief economist at Bank of Baroda. He completed his M.A. in Economics from Delhi School of Economics and B.A. in Economics (Hons) from St Stephen's College. He has been a corporate economist since 1987, and has worked in the fields of development banking, commercial banking, engineering, commodity markets, and credit ratings. He has written over 2,500 pieces for various financial publications since 1988. He has also been chairman and co-chairman of committees at BCCI and IMC.
Madan Sabnavis is chief economist at Bank of Baroda. He completed his M.A. in Economics from Delhi School of Economics and B.A. in Economics (Hons) from St Stephen's College. He has been a corporate economist since 1987, and has worked in the fields of development banking, commercial banking, engineering, commodity markets, and credit ratings. He has written over 2,500 pieces for various financial publications since 1988. He has also been chairman and co-chairman of committees at BCCI and IMC.
Page 2 - Madan Sabnavis
Extension given to the RBI governor is good for the markets
While it is true that institutions are more important than the person, ideology and approach of Governors of central banks are important
 "Extension given to the RBI governor is good for the markets")
RBI has just about started a gradual liquidity reversal process
There will not be any shock to the market, with the calendar being drawn out.
 "RBI has just about started a gradual liquidity reversal process")
NARCL: Another brick in the wall; not too different from other ARCs
Having several routes for NPA resolution has both advantages and disadvantages as the decision will finally be taken by the banks
Q1 GDP more of a statistic rather than a reflection of the state of economy
These growth numbers will moderate going ahead, as the base effect becomes weaker provided there are no further lockdowns
Need to hasten the rollout of Rs 6 trn asset monetisation plan
Do we have plans in place where these assets have been identified and the route and pricing decided so that the NMP can be set in motion is the moot question
MPC reassures status quo on rates, but changes view on inflation
The temporary supply shocks that have led to higher inflation has been kept aside by the MPC while focusing on growth
Removal of retro tax will send positive signal to foreign investors
This change in retro tax law will reflect well on the govt's efforts to improve the ease of doing business environment
Large part of FM's stimulus package will work only in medium-term
The government and the central bank's credit measures appear to show India has gotten its priorities against a possible third wave of Covid-19.
Growth it shall be: RBI's future stance for the economy very clear now
Monetary policy committee's decisions show there is slim chance of repo rate being increased in near future
GDP growth number: A pleasant surprise, but will it help in FY22?
With the second wave leading to a close down of services, in particular, progress will remain retarded
RBI gets into the act; lays foundation for more measures going ahead
The signal really given by the RBI is that while it does believe today that things have not taken a turn for the worse as all enterprises are better prepared than last year while facing lockdowns
Rupee will be in suspended animation for some time
While a value of Rs 74-74.5/$ looks fair, one can never tell. The RBI may have to intervene if the rupee crosses the 75 mark and edges upwards
RBI has been pragmatic on growth; ring-fenced the liquidity issue
The focus was to be more on the language of the RBI on growth and inflation. Here, the RBI has been pragmatic on growth with a forecast of 10.5 per cent for fiscal 2021-22 (FY22), which is quite timel
GDP numbers: Positive surprise for third quarter but negative for FY21?
The GDP forecasts do indicate that we are on the right path and in the absence of any serious localized lockdowns can be expected to accelerate with time
Budget 2021 is fiscally stimulating, but more on expenditure side
Budget has delivered a fairly effective boost on capex while bringing about some reforms in the financial sector
Banking on Budget: The five areas of focus for FM Nirmala Sitharaman
Given the series of policy announcements made by Finance Minister Nirmala Sitharaman in the last 9 months it is reasonable not to expect more this time
GDP estimates on expected lines, has fiscal implications for country
India's inability to go about doing business during the lockdown to contain the coronavirus had a profound impact on the economy
RBI policy: Clearly more sanguine on growth, but cautious on inflation
The curious message we get form the statement is that inflation is no longer the only target and we are back to the old days when both growth and inflation were targets for monetary policy
Economic recovery after Covid-19 shock make Samvat 2077 shimmer with hope
Improved economic performance, better corporate earnings, and a likely global economic recovery could be the comforting factors for the markets in Samvat 2077
Atmanirbhar Bharat 3.0 helps stressed sectors at operational level
Sector-based approach of the 12 announcements made by the Finance Minister would provide succour