Reaction on RBI MPC By Mr. Ajay Kumar Srivastava, MD & CEO, Indian Overseas Bank
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Below the Reaction on RBI MPC By Mr. Ajay Kumar Srivastava, MD & CEO, Indian Overseas Bank
The RBI MPC’s decision to keep the repo rate unchanged at 6.5 per cent is a positive move even though retail inflation continues to be above its target of 4 per cent. With the Indian economy showing signs of strong growth momentum and stability, the GDP growth projections marked at 7 per cent for FY25 is encouraging. The ECBs and NRI deposits recording higher net inflows, and forex reserves marking at an all-time high of $645.6 billion, is also building a growth roadmap for the banking sector. Another positive development has been on RBI facilitating deposits of cash at CDMs using UPI as well as permitting use of third-party UPI apps for making UPI payments from PPI wallets. All these measures are going to further enhance customer convenience and boost adoption of digital payments.
Above views are of the author and not of the website kindly read disclaimer
