Mr. Umesh Revankar, Executive Vice Chairman, Shriram Finance on RBI MPC –
“RBI’s decision to change its stance from ‘Withdrawal of Accommodation’ to ‘Neutral’ is encouraging and raises hopes of a possible rate cut in the near future. A resilient domestic economy and an overall optimistic outlook fueled by private consumption, a favourable Kharif season, and a positive outlook for the Rabi Season based on improved soil moisture to help ease food inflation, could be key factors that will help reduce inflation in the coming months.
Globally, challenges such as geopolitical conflicts, geo-economic fragmentation, and financial market volatility are factors that economies are grappling with, however, appropriate initiatives by the RBI have ensured that India’s domestic growth has sustained momentum.
The Governor’s guidance to NBFCs marks a critical moment for the sector’s growth, and likely lower cost of funds is going to benefit NBFC sector and ultimately the customers.”