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Below is the RBI MPC announcement reaction By Shri. Shanti Lal Jain, MD & CEO of Indian Bank.

“Considering domestic inflation outlook, growth prospect of the economy and emerging global scenario, RBI has decided to hike the policy rates by 25 bps. The outcome is in line with the market expectations and gives confidence on the RBI’s efforts to keep the economy resilient, support growth during the present global uncertainties & to control the inflation.

Expansion of TReDS will further improve cash-flows to the MSMEs. Enable UPI to inbound travellers to India will showcase the potential of UPI to the world and promote cashless economy. Discussion papers on Penal charges on loans will bring more uniformity in aligning of charges, reduction of customer grievances and will bring better credit discipline. Impetus for climate risk & sustainable finance will further strengthen the banking sector."

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