RBI Monetary Policy Views by Mr. George Alexander Muthoot, MD, Muthoot Finance
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Below comments On RBI monetary policy by Mr. George Alexander Muthoot, MD, Muthoot Finance
We appreciate the RBI’s prudent decision to keep the repo rate unchanged at 6.5% and maintain their stance on ‘withdrawal of accommodation’ to align with the evolving growth-inflation dynamics and remaining focussed on ensuring sustainable growth for the Indian economy. This may keep interest rates slightly elevated in the economy and on credit to small businesses. We remain optimistic on gold loan demand, credit demand from MSMEs, Micro loans and demand for housing loans, given India’s resilient domestic economy, government thrust on capex, strong urban consumption and pick up in rural demand.
The RBI has further announced an important measure to ensure greater transparency for the retail and MSME borrowers. The regulated entities are required to share a detailed document called Key Fact Statement (KFS), listing all the key information regarding a loan agreement. As an NBFC adhering to compliance, corporate governance and taking proactive measures to safeguard the interest of our customers is of prime importance to us, and we welcome this move as it will encourage and enable the borrowers to take informed decisions.
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