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Below Quote on MPC Announcement By Mr. Jayaprakash, Chief Growth Officer, Jiraaf

RBI’s decision to leave repo rates unchanged at 6.50% was expected as we have seen significant reduction in inflation over the past several months. Jiraaf sees this decision positively given it will support the economic growth of the country, and spur affordable and accessible credit to end customers. The cost of borrowing had been increasing for quite some time making it expensive for individuals to finance for home, auto or personal needs. Similarly, it challenged SME and MME sectors to borrow debt at affordable cost to invest in their operations. This action by RBI would be a welcome move for both individuals and corporations.

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