[MJR] Making sense of RBI cuts

18 Apr,2012

By Ranjona Banerji

 

This minor rant is against no one but myself, and my inability to understand the purpose of these one million business news channels on Indian television. There, see, my error in comprehension in the first sentence itself. These channels have nothing to do with news – they have to do with the stock market and sometimes the commodities and properties markets. No connection with business news at all.

 

Anyway, in an attempt to get the latest on the RBI’s rate cuts, I travelled through all the stock market channels to find out (This is a mistake I have made before, I must confess. Hope springs eternal… said Alexander Pope. He was neither a stock nor a commodities broker or even a real estate agent, so never mind who he was). Did I find out anything? Of course not. I don’t think the Reserve Bank of India really exists in these exclusive clubs.

 

Oddly, the minute I randomly arrived at a regular news channel, there was D Subbarao, RBI governor, telling us what was in store for us: loans, EMIs, fixed deposits, inflation, GDP, government fiscal policy and more.

 

O ye of little faith, you might think, slamming TV news everyday and then finding them more that adequate when required. But I have one point in my defence for this little mistake about trying the business route: the stock market channels were really quite good during the unveiling of the Union budget.

 

Which means I know where I have to go next year but never again until then, unless of course I want to listen to a language I can’t understand and watch lots of little arrows in different colours going up and down. Although I could always watch entertainment news segments if I want to be really confused…

 

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