? Cool Title, but what’s the news?
There cannot be any other news today. The country’s going through some major reshuffling with the appointment of new RBI governor – Mr. Shaktikanta Das, after Mr. Urijit Patel cut-short his tenure and resigned.
? Okay, but what does it mean?
Given that the markets have not performed very well this year, in the light of various unforeseen events – the IL&FS default, the PND fraud, the Rotomac scandal, rising crude oil prices, etc., it’s expected that the new governor will have a lot of streamlining to do.
? Why should I care?
The resignation of the old RBI governor and the appointment of the new one has gotten just about everyone talking. All this coupled with the negative events of the year, is sure to adversely affect the markets more but investors should not be afraid. A downfall in the market conditions should not be seen as negative, as this presents a buying opportunity for the investors.
For a country growing at over 7%, markets will certainly rebound but the timing of the same will be difficult to predict. Moreover, with the dismal bank rates and poor showing of real estate, equity investment is best for investors today and the market is ripe for that.
Source: Economic Times