Quote on RBI MPC Reaction by Mr. Ajay Kumar Srivastava, MD & CEO, Indian Overseas Bank
Below the Quote on RBI MPC Reaction by Mr. Ajay Kumar Srivastava, MD & CEO, Indian Overseas Bank
“The RBI’s decision to maintain the repo rate at 5.5% and continuation of maintaining a neutral stance is a well calibrated approach in its aim to control inflation and growth support. With core inflation remaining steady at 4% mark, projections of CPI inflation averaging 3.1% for FY26 and GDP growth holding steady at 6.5% reaffirms the resilience of the Indian economy. We also welcome RBI’s move on liquidity management and its aim to remain nimble which is important for ensuring credit availability while maintaining economic stability. RBI’s decision to enhance retail access to Treasury Bills via SIPs and the standardisation of bank locker and account claim settlements, are initiatives that are expected to further deepen financial inclusion and boost investor confidence. With completion of a decade in Jan Dhan scheme, banks are also aggressively undertaking camps initiatives to expand the number of accounts. At Indian Overseas Bank, we see this policy stance as growth and stability oriented, and we are committed to supporting the credit needs of individuals and businesses alike.”
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