Overview

• SBI Research released “The Monetary Multiverse,” a playful report suggesting RBI Governor Sanjay Malhotra’s necktie colours could hint at upcoming policy decisions.
• It highlights that “growth” appeared 24 times in the RBI’s June statement, a spike that preceded the 50-basis-point cut and coincided with a Dark-tone tie during the announcement.
• The report classifies ties into Warm, Cool, Dark, and Mixed tones linked respectively to hawkish, neutral, decisive, and unpredictable policy biases.
• A Tie Volatility and Tilt Index merges each tone’s average policy direction with its consistency to quantify how reliably colours might signal rate actions.
• SBI stresses that Necktie Nomics is intended as a light-hearted supplement and not a substitute for standard macroeconomic models.