quote from Mr. Murali Ramakrishnan, MD &CEO, South Indian Bank on RBI Monetary Policy
“RBI has taken a measured stance in its latest monetary policy. Its calibration has to be seen in the macro perspective of trying to balance both growth and inflation amidst volatile times. An increase of 50 bps in the repo rate may seem hawkish, but it is required to numb the inflationary trends. This is the third time in quick succession that the RBI has increased rates. The earlier revisions have spurred economic activity proving its utility. However, the real worry is inflation which is forecasted at 6.7% for FY23 with retail inflation being the chief culprit. I am hopeful that given our strong economic fundamentals and better cash reserves, the repo rate hike will contribute positively in helping India overpower the dragon of inflation.”
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