Quote on RBI MPC Narender Singh, smallcase Manager and Founder Growth Investing
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Below the Quote on RBI MPC Narender Singh, smallcase Manager and Founder Growth Investing
“The Reserve Bank of India (RBI) has decided to keep the repo rate steady at 6.5% and continue its 'withdrawal of accommodation' policy. This decision means that loans linked to the repo rate will not see an increase in EMIs, providing relief to borrowers. However, interest rates on loans tied to the marginal cost of funds-based lending rate might still rise. RBI projects a 7.2% GDP growth for FY25 and aims to bring inflation down to 4%. If the 7.2% growth is achieved, it will be the fourth consecutive year of over 7% growth. Governor Shaktikanta Das highlighted the need to stay cautious due to food price uncertainties and potential inflation risks. With inflation declining and GDP growth looking positive, the RBI is focused on ensuring inflation remains sustainably low. While borrowing costs may remain high, interest rates on fixed deposits are expected to increase, offering better returns for savers. As global rate cuts are anticipated, led by the European Central Bank, the Federal Reserve may also provide relief soon. For consumers, this means stable loan rates and potentially higher returns on deposits in the near future.”
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