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View on RBI Monetary Policy By Mr Murali Ramakrishnan, South Indian Bank
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Below Quote On RBI's Monetary Policy announcement By Mr Murali Ramakrishnan MD & CEO - South Indian Bank
"The RBI deserves praise for its efforts in controlling inflation by prudently calibrating the policy repo rate through successive quarters. MPC’s well-timed rate hikes earlier have allowed it the leeway to keep the repo rate unchanged at 6.5% for the current cycle.
Inflation, however, still remains a concern and is expected to remain above targeted levels right through FY2023-24 as per RBI’s forecasts. Accordingly, despite the pause in rate hikes, the MPC is exercising tight control over monetary conditions by continuing its stance of withdrawal of accommodation."
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