Quote on RBI MPC comment by Mr. Jimeet Modi, Samco Group
Below are Quote on RBI MPC comment by Mr. Jimeet Modi, Founder & CEO Samco Group
Exactly a year ago, RBI had cut the repo rate down to 4% from 5.15%, pre-pandemic levels and the rates have remained unchanged till now. India’s accommodative stance continues to remain inline with global peers such as Fed and ECB and this times policy was also aligned with market expectations. The spectrum of forecasts both in terms of GDP and inflation were balanced out and remained more or less on the optimistic side. The RBI has indeed given a helping hand, in whatever way possible to boost liquidity for MSMEs, the hardest hit space in this pandemic. Support to the contact intensive sectors is definitely a move in the right direction although the relief package could have been higher to hold the bottom of the pyramid from losing ground. Various other decisions in terms of opening the debt markets to FPIs and facilitating a Rs. 1.2 Lakh Cr in Q2FY22 for GSAP2.0 will aid to safeguard our economy from contraction and keep markets buoyant.
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