Shumita Sharma Deveshwar

Director, India Research
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Recent India research

* India: Stake sales to test Modi’s political will, Shumita Sharma Deveshwar, 10 Aug 2017
* India: Competition with China enters new phase, Amitabh Dubey, 3 Aug 2017
* India: Smooth GST rollout masks important risks, Shumita Sharma Deveshwar, 27 Jul 2017
* India: Politics hampers RBI’s battle for credibility, Shumita Sharma Deveshwar, 13 Jul 2017
* India: Food deflation changes electoral dynamics, Amitabh Dubey, 7 Jul 2017

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India Monitor: Surprise rate cut signals concerns about gradual recovery


With its surprisingly large 50bps cut in the policy repo rate, the Reserve Bank of India (RBI) beat even our out-of-consensus call that it would cut rates by 25bps at its 29 September monetary policy review and follow up with another rate cut of a similar magnitude before the end of this year. Based on RBI Governor Raghuram Rajan’s hawkishness to date, most market observers had pencilled in a 25bps reduction in September and the next rate cut only in 1Q/FY16. A slow economic...

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