bye bye r3

R3 created a mess in indian economy...indian economy can't grow with astronomically high interest rates especially when some countries like Japan have negative interest rates..i know comparing India with Japan is comparing apples with oranges..but the fact is that india with its huge underpriviliged poor population can't afford low growth. India has to grow at double digits to lift this huge population to a better economic level. and for that we need low interest rates. r3 also did huge damage by making banks calculate their NPA now in real time when all the core sectors steel, cement...are in bad shape as drivers of economy like real estate, infra etc were in bad shape or recovering after the misrule of previous govt.. it is like telling a sick marathon runner to run the marathon when he is unwell. after the economy had recovered would have been a better time for this excercise.the result is crores of red spread over P&L statements of psu banks.. hence departure of r3 is good news. the new rbi gov we hope is more pragmatic. for the investor keep an eye on new listings & identify & invest in genuine high growth promising stories on decline.