Money on the markets
A maturing market amid the mayhem
Finance Minister P. Chidambaram is not the only one walking alone.
Duvvuri Subbarao, the Reserve Bank of India (RBI) chief, also seems to be on a solitary, and one hopes, contemplative walk.
It’s not just the government putting pressure on the central bank to act and cut rates.
Minutes of a RBI advisory panel on monetary policy released on Wednesday showed Subbarao went against the advice of most external members, including economists and academics, in deciding to keep rates on hold at the Oct. 30 meeting.