My year end musings. A Financial Sector Model for India’s dream: 9% annual growth, $30 trillion GDP by 2047. India is transforming from a nation of savers to investors. The tussle between the saver/ borrower and issuer/ investor model is underway. In the early 80s, the Indian

Follow up Thread 🧵: Farmers Protests: They’re back! If Karl Marx were to hear about the farmers protests today, there is a chance that he would be back too. Just like the farmers are back with the same old MSP demand, that is not only un-justified but unethical

While not everything that happens in your life may be your fault, it is always your responsibility.

Why do people get married? Because we need a witness to our lives. You’re saying, “your life will not go unnoticed because I will notice it. Your life will not go unwitnessed because I will be your witness.” So profound, so beautiful. Via

If you could put one idea on a billboard for the world to see -- what would it be? Here's mine: Adults don't exist. If you dig deep enough under low agency behaviour, you discover a belief in a god-like adult class that is superior to them. There’s a Peter Pan perception of

Simple but not Easy. Isn’t it amusing that we all know what is good, what is right, what is bad and what is wrong. From exercising every day to not consuming Alcohol or Tobacco. We know the damage caused by anger and jealousy. We know the habits that are destroying us. Yet, we

I agree with Rajan. Unlike in Europe or America where institution-building preceded universal adult franchise, India's journey was reverse. Democracy was clamped on a semi-feudal state. While the intention of our founding mothers and fathers may have been noble, it made for a

"Nothing in life is as important as we think it is while we are thinking about it." The first time I read those words, they made me pause and go back to read them again. Then the realisation arrived, not like a freight train, but like a drop of ink in water, slowly diffusing to

My tribute to someone I learnt the most from 🙏🙏 To me Daniel Kahneman is the closest I have to the GOAT claim. Influenced my thinking the most. The biggest learning? Just intellectually understanding the irrationality of our thought processes doesn't really change our real

Are you lonely or alone? Humans hate being lonely. Being alone is our reality. We marry, make friends, go to parties- giving us the illusion of not being alone. Lets understand loneliness through Greek Mythology. Narcissus on whom the word Narcissist came is so much in love

The Yen carry trade is nothing. The real carry trade is... Step 1 - Indian retail investors pouring in money in the stock markets via SIPs; this is no ordinary money as it keeps coming month after month with a high degree of dependability Step 2 - A lot of this money is

Growth in bank deposits has been slow because RBI wants it to be slow. The growth hasn't been slow because people are buying more mutual funds and stocks or trading in financial derivatives for that matter. That's rubbish of the highest order. The growth also hasn't been slow

Inflation, Core Inflation, Food Inflation... You hear all these numbers But why do they matter? How do RBI and the Fed look at these? How do these impact interest rate policy? And why does interest rate policy matter to markets? A quick look - The Fed and other Central

Living on Money Borrowed from our Kids! The classical definition of inflation is too much money chasing too few goods. They didn't tell us how this happens. Government prints more money, poetically referred to as Quantitative Easing or deficit financing- what we call borrowing!

My latest article in The New Indian Express on the topic of Who Pays How Much GST in India. Oxfam's claim that 64.3% of the GST is paid by the poorest 50% in India has been widely circulated several times in various media outlets. Inspired by a student's comment during a casual

Vikram Samvat 2081 I write this on Diwali eve, watching the sun set on the Nilgiri mountain range, surrendering the night to the chill in the air. Am reflecting on the year gone by. My assessment criteria has evolved over the years and now is 1. Have I become richer in

Capitalism is a vehicle with dysfunctional brakes. Recently the RBI Governor said “Having raised capital, some entities are chasing excessive returns on their equity” - pointing out concern arising from usurious interest rates. Equity is the most expensive debt a founder ever

Let me clearly outline my view on GOLD. I am firmly of the view that all actions of US indicates that US does not want to remain as the only reserve currency in the world. Going back 5 centuries and 6 reserve currencies ( every reserve currency existed for 90-100 years) it is

Most Indian employers overcomplicate employee wellness. It’s not about step challenges, yoga, Zumba sessions, or Friday parties. 64% of employees in India report high workplace stress and burnout. Stress isn’t about long hours—it’s the rigid work culture. Being stuck in a 9-to-6