Views on RBI Monetary Policy by Mr. George Alexander Muthoot, MD, Muthoot Finance
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Below the Views on RBI Monetary Policy by Mr. George Alexander Muthoot, MD, Muthoot Finance
In line with our expectations, the RBI MPC has continued to maintain a status quo on the repo rate primarily to ensure inflation aligns to the target, while supporting growth. We are encouraged by the 50bps hike in GDP growth projection to 7% for FY24, an optimistic side despite a fragile global economy. The recent festive period spurred households’ discretionary spending and we drive confidence from steady urban demand and gradual improvement in rural demand. We are positive that these improving consumer sentiments will positively impact credit demand in India, along with gold loan demand in the industry.
Muthoot Finance has believed on transparency and customer centricity. We applaud the RBI MPC move on laying a regulatory framework for web-aggregation of loan products which will enhance transparency in the system and work in favour of customers’ interest. Further RBI has enhanced UPI limits for medical and educational services, as well as e-mandates for recurring online transactions, this will further deepen digital payments in India and increase customer centricity.
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