RBI relies (again) on evil NRI's dollars

goodcitizn wrote:Sarcastic as it might sound, the govt should first ask its own ministers, legislators and coalition partners to bring back all their deposits in foreign banks into India. That influx alone would solve the problem entirely.

garam_kuta wrote:

goodcitizn wrote:Sarcastic as it might sound, the govt should first ask its own ministers, legislators and coalition partners to bring back all their deposits in foreign banks into India. That influx alone would solve the problem entirely.

and it can loan the US to wipe of its own deficit, i bet !

and the host countries and their banks which guard the loot should be punished for this crime - it's as bad as selling illicit arms/weapons and drugs:evil: 

Marathadi-Saamiyaar wrote:

...Bash the NRIs and belittle their contribution, question their attachment to India when the going is good and resort to the usual begging when the Indians screw up the country through their corruption and black money.

Merlot Daruwala wrote:

Marathadi-Saamiyaar wrote:

...Bash the NRIs and belittle their contribution, question their attachment to India when the going is good and resort to the usual begging when the Indians screw up the country through their corruption and black money.

It's only a matter of time before you start wailing about your vicitmization on account of your (1) profession (2) Castu and sub-castu (3) Language (4) Dialect and (6) Region and sub-region etc.

Marathadi-Saamiyaar wrote:Heard a friend of mine in India say this: Some people believe that the politicians want the Rs devalued and keep it that way till the elections, as they need to bring in the hoarded dollars from abroad.

Although unbelievable and unlikely, makes sense - given the selfishness of all our politicians.

goodcitizn wrote:

Marathadi-Saamiyaar wrote:Heard a friend of mine in India say this: Some people believe that the politicians want the Rs devalued and keep it that way till the elections, as they need to bring in the hoarded dollars from abroad.

Although unbelievable and unlikely, makes sense - given the selfishness of all our politicians.

I don't think so. Those politicians who have black money stored in foreign banks will never bring them back here. It is unlikely that Chidambaram will sell his coffee and tea estates in Brazil to help the foreign reserves in India. That goes for Karunanidhi, Mulayam, Mayawati and the whole rotten bunch. But NRI's would pump more dollars into India because of the attractiveness of the exchange rate and the ability to make 9 to 10% interest on just FD's as compared to a meagre 3% in the U.S.

Merlot Daruwala wrote:

goodcitizn wrote:

Marathadi-Saamiyaar wrote:Heard a friend of mine in India say this: Some people believe that the politicians want the Rs devalued and keep it that way till the elections, as they need to bring in the hoarded dollars from abroad.

Although unbelievable and unlikely, makes sense - given the selfishness of all our politicians.

I don't think so. Those politicians who have black money stored in foreign banks will never bring them back here. It is unlikely that Chidambaram will sell his coffee and tea estates in Brazil to help the foreign reserves in India. That goes for Karunanidhi, Mulayam, Mayawati and the whole rotten bunch. But NRI's would pump more dollars into India because of the attractiveness of the exchange rate and the ability to make 9 to 10% interest on just FD's as compared to a meagre 3% in the U.S.

GC saar, they'll bring back their ill-gotten hoards not out of any love for the country's forex reserves but to finance the forthcoming elections. Campaigns run wonly on cash in our wonderful democracy. And of course, a weaker Rupee means the same dollar can buy that many more votes.

I think the Indian economy will get a big consumption-led boost soon as elections approach. The big truckmakers are already salivating at the prospect....I'm thinking Ashok Leyland stock which was hammered out of shape this year (down from Rs 29 in Jan to Rs 13 at present) is a good bet.

Merlot Daruwala wrote:Oh Tata Motors and Ashok Leyland have both seen a decline in their LCV and heavy vehicle sales last few months as the domestic economy has come to a virtual standstill. But elections usually see a spike in truck sales (presumably for transporting men and materials) so analysts are expecting them to do better in the coming months. So I suppose their stock will also bounce back from current levels.