Comments on: Forget CRR cut, Subbarao should cut down his humour

By: AdityaK

AdityaK — Thu, 06 Sep 2012 06:54:07 +0000

Dear all,

Thank you for the feedback. I am in no way saying that the RBI governor has not been one of India’s best central bank governors so far. I also appreciate his sense of humour. His comment on inflation and payments to the barber was funny, as I said above.

However, the only question I raise is that why should the governor say anything at a banking conference which can cause confusion — among journalists, investors, money managers and all. Isn’t it something that is prone to being misread? He also clearly knows that it can affect markets. The question is – was this really needed?

Re: the spat – It was clear that Chaudhuri and the deputy governor had different views on this topic. If the RBI governor says (or rather, jokes) about appointing a committee on abolishing CRR, it was likely to confuse some journalists who will snap it if they need to report real-time news.

By: nalamati

nalamati — Thu, 06 Sep 2012 05:53:04 +0000

how can a journalist with lack of knowledge who doesnt wait till a sentence is completed send a message to newswire,and how does this make governor comedian.

By: Rajkskumar

Rajkskumar — Wed, 05 Sep 2012 14:36:35 +0000

I would like to strongly disagree.

By: vare

vare — Wed, 05 Sep 2012 09:07:20 +0000

comedian? arent we taking things a bit too far? give the guy a break – the haircut joke was perfectly legit.

By: Ramyav

Ramyav — Wed, 05 Sep 2012 08:14:10 +0000

I totally disagree. Firstly Subbarao’s penchant for humour is well-known and anyone who covers the central bank would know that.
Secondly and more important, both the SBI chairman’s demand to phase out CRR and KC Chakrabarty’s sharp rebuke were widely reported and were featured on the front page and not too long ago.
If reporters heard his remarks and thought it was worth flashing, it just shows how out of touch they are.
Rather than calling for Subbarao to tone down his humour, how about asking reporters to be more up to date?

By: Anonymous

Anonymous — Wed, 05 Sep 2012 07:25:17 +0000

To believe that the markets were moved by the CRR comments is ridiculous.

Kalra should be aware that the flexibility to cut CRR does not exist, given the money supply in the system. he should follow the LAF auctions carefully. Bankers following that were clearly aware that it was a joke. If markets moved, it was not because of the humour. It was because of ill informed journalists like Kalra, who cannot appreciate sense of humour.

For equity markets to move, or short sell they just need a reason. The reason could be as little as subbarao opening his zipper at the urinal. The real reason for the market movement was that somebody was looking to make a quick buck and he made it. There is an old English adage, “A fool and his money are soon parted” That is precisely what has happened.
Bond markets hardly moved,

Kalra obviously cannot take humour in journalism and professional life. He should return to reporting to the regime of Khap Panchayats, which is where he belongs. After who the bloody hell is he to lecture to the RBI governor on decorum, without knowing the basics of economics?

C Shivkumar