More commodities have been put on the banned list though there's no evidence futures cause a price hike.
Domestic policies rather than the global turmoil is what will really affect growth prospects.
With each passing day, the dollar keeps sinking lower against both the euro and the Japanese yen. In the process, prices of individual assets get carried way beyond the levels justified by economic fundamentals. Prices of 'risky', that is non-sovereign, bonds have also been falling rapidly. Confidence in dollar markets has sunk very low, and is getting reflected in the prices of currencies and bonds. The US treasury has still not changed its 'strong dollar' policy.
While the Fed and the ECB slash and raise rates when needed, the RBI seems to move in just one direction.
The tyranny of market prices is that they are too influenced by market liquidity, as distinct from fundamentals.
Chinese equity prices have remained immune to the erosion in investor confidence witnessed at other centres.
That the real economy should suffer because of the greed of a few in the financial services industry is sad.
Clearly the lessons of the LTCM have either not been learnt, or have been forgotten in the last nine years.
By the time vital decisions, such as importing foodgrain, get implemented, it is often too late.
It's a classic example of the proverbial banker offering an umbrella when there is little possibility of rain.
Quite apart from bureaucratic hassles, procedures and corruption, the want of stability, consistency, and completeness in policies and regulations, also add to the difficulties.
The number of cases of rupee-denominated bonds being issued outside India may well increase in future.
An undervalued rupee is critical if India is to generate enough employment, but the RBI doesn't seem too concerned.
The yen and hedge funds are at centre stage, but what will happen if China diversifies into holding the yen.
Non-availability of minimum facilities is the sacrifice the rural poor are being forced to make in pursuit of the Left's ideology.
There are several major imponderables in the world economy, which could lead to financial instability.
Indians seem to be getting attracted to foreign assets and countries in a different way
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