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Reaction Quote of Kotak Mahindra Bank Limited on RBI Monetary Policy

Reaction Quote of Kotak Mahindra Bank Limited on RBI Monetary Policy

Kochi, April 12, 2023: “Very balanced and prudent approach taken by RBI in deciding to pause, keeping in mind both inflation control (price stability) & supporting GDP growth (financial stability). At the same time, reiterating & reinforcing the fact that sticky inflation & international markets will continue to be closely watched by them for future decisions – hence, keeping their options open. I believe, easing global situation, including some cool-off in inflation, leading to possibility of slower Fed hikes + domestically, a reasonably comfortable CAD & Forex Reserves position + overall consumption demand still in the positive territory – led the MPC to take this decision! Two key things to watch out for – unfolding of the monsoon (El Nino effect) and financial stability of the global markets. As things stand, I am hopeful that this rate hike pause will help in creating a positive mindset (in general), which can lead to some growth in both investment & consumption demand. Also, this being an election year + a strong capex expenditure budgetary plan announced by the Govt. should aid this.” says Mr.  Manish Kothari, President & Head – Commercial Banking, Kotak Mahindra Bank Limited on RBI Monetary Policy.

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