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Below is quote on Monetary Policy by Mini Nair, Chief Financial Officer at Geojit Financial Services.

"RBI’s rate hike was in expected lines as inflation remains elevated coupled with continued global uncertainties. This hike is also to keep in pace with what’s happening across the globe. But in contrast to many other countries, economic activities in India are stable now and most of the sectors are holding back well. Growth in credit offtake driven by the sustained retail and improving corporate credit is a proof of that. Overall, I think the rate hike is a positive communication as the hike will help to control the inflation and to protect the currency"

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