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Contrarian Indian Management

We will review the entire policy regime for FIIs, says Bhave.

We already have structures in place in India. We would not want to copy reactions to a particular crisis.

Contrarian Indian Management

While the world over, when central banks were loosening purse strings, RBI went ahead and tightened. While the world over, defensive actions were being taken to protect equity markets, Indian regulators did a 1-2 and announced a CRR cut to increase liquidity and SEBI loosened PN trades.

This is interesting – and good contrarian moves.


The 2ndlook model for a Third currency Bloc is ready. Join in to review, participate, critique and develop the First Cut. While the need for a new global reserve currency has been evident, there is very little in the public sphere. The speed of events has clearly caught the BRICS and Third World napping – and unprepared. But, not 2ndlook – who, from the very beginning, proposed that the world should stop clinging to the Dollar-Euro skirts.

Categories: Uncategorized
  1. Dsylexic
    October 7, 2008 at 11:32 am

    Not contrarian at all if you compare to other Asian nations like China,Taiwan,Korea .All of them were tightening till now.Infact we started tightening a bit late I think.

    .Ditto for their reaction now.NZ and Taiwan already have cut rates. RBA(australia) cut loose as well, soon to be followed in the West in this week.It is classic Milton friedman followers worldwide going about this play by play.Central bankers all over the world have turned friedmanites.I fear for India as well -Reddy was conservative by not allowing fancy derivatives into India,cannot trust the MIT educated new RBI governor.

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