09-12-2023 02:17 PM | Source: PR Agency
Quote on RBI Monetary Policy by Srikanth Subramanian, CEO, Kotak Cherry

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Below the Quote on RBI Monetary Policy by Srikanth Subramanian, CEO, Kotak Cherry


"RBI MPC unanimously decided to keep the rates unchanged at 6.5% with the stance also retained at “withdrawal of accommodation”. Softer inflation, better than expected GDP growth rate, robust consumption and capital demand were at the backdrop of RBI’s decision. GDP growth forecast for FY2024 revised up to 7% from 6.5% and the inflation forecast retained speaks volumes about the economy’s resilience. The governor did sound cautious of the food inflation and possible shocks there, but otherwise the statement was quite upbeat. It was the first time governor Das spoke about over-tightening, which will send further signals to the market. As we speak, Nifty 50 has breached the 21k mark, so the policy statement was broadly in line with some green shoots packed well in it. At current levels investors should stagger their equity investments, and stick with quality large -caps stocks. For debt investors it will be prudent to diversify  investments across the short-end (up to 3 years) and long-end ( 7-10 years)."


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