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Take on RBI Policy rate and as well as its impact on the capital markets & AI Industry - Mr. Sumit Chanda, Founder and CEO, JARVIS Invest

“RBI's move not to raise rates comes as a surprise. Given the backdrop of the global banking crisis, the regulator is absolutely on point in its view that any liquidity tightening at this juncture would have proven to be counterproductive. However, one should not construe this pause as the new normal since RBI is very clear on the inflation front and one can expect further rate hikes once the banking crisis abates. Global commodity prices have moderately significantly, however the trajectory of both commodity prices and crude prices will be keenly watched. We continue to believe that Indian equity markets are poised to hit new highs. I reckon it is a good time to be invested in equities. However, prioritising asset allocation would be crucial at such a juncture for long term wealth creation.

On the technology front, we continue to believe in the increasing importance and use of AI across industries and financial systems. The RBI has decided to develop a web portal to enable search across multiple banks for possible unclaimed deposits based on user inputs. The search results will be enhanced by use of certain AI tools. This further amplifies the various use cases of AI in financial systems and powering customer experience.”

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