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Quote on RBI Monetary Policy : The Monetary policy statement reiterated its commitment on withdrawal of accommodation to ensure inflation Murthy Nagarajan, Tata Mutual Fund Below the Quote on RBI Monetary Policy by Murthy Nagarajan, Head-Fixed Income, Tata Mutual Fund   “The Monetary policy statement reiterated its commitment on withdrawal of accommodation to ensure inflation progressively aligns with the target, while supporting growth. Headline inflation is projected to decline in 2023-24 from its level in 2022-23 but still be above the target of 4 % , warranting continuous vigil. GDP growth is maintained at 6.5 % levels and CPI infl...
Quote on RBI Monetary Policy : The Monetary policy statement reiterated its commitment on withdrawal of accommodation to ensure inflation Murthy Nagarajan, Tata Mutual Fund
Quote on RBI Monetary Policy : The Monetary policy statement reiterated its commitment on withdrawal of accommodation to ensure inflation Murthy Nagarajan, Tata Mutual Fund
Source: PR Agency
8/06/2023 2:28:23 PM
RBI MPC Reaction : The hike in repo rates would led to higher savings in the economy and reduce discretionary spending Says Murthy Nagarajan, Tata Mutual Fund Below is quote on Monetary Policy by Murthy Nagarajan, Head - Fixed Income, Tata Mutual Fund “RBI hiked the repo rates by 25 basis points and retained its stance on withdrawal of accommodation to control inflation expectations . The repo rates now stands at 6.5 % with MSF at 6.75 and SDF rates at 6.25 %.  GDP growth for the current year has been hiked to 7 % and next year GDP is projected at 6.4% levels with first Q1- 7.8 %, Q2- 6.2 %, Q3- 6 % and Q4- 5.8 %. . CPI infl...
RBI MPC Reaction : The hike in repo rates would led to higher savings in the economy and reduce discretionary spending Says Murthy Nagarajan, Tata Mutual Fund
RBI MPC Reaction : The hike in repo rates would led to higher savings in the economy and reduce discretionary spending Says Murthy Nagarajan, Tata Mutual Fund
Source: PR Agency
8/02/2023 2:17:43 PM
Post Budget Analysis : The total fiscal deficit is at Rs 17.86 lakh Crores which has been funded prudently Says Murthy Nagarajan, Tata Mutual Fund Below is Debt Quote by Murthy Nagarajan, Head-Fixed Income, Tata Mutual Fund “The Gross borrowing for the next financial year is estimated at Rs 15.43 Lakh Crores and net borrowing is expected to be Rs 11.8 Lakh Crores, with fiscal deficit of 5.9 % of GDP. This has been possible as the government is targeting to get Rs 4.7 Lakh inflows from small savings and borrow Rs 50000 Crores additional through one year treasury bills. The total fiscal deficit is at Rs 17.86 lakh Crores which ha...
Post Budget Analysis : The total fiscal deficit is at Rs 17.86 lakh Crores which has been funded prudently Says Murthy Nagarajan, Tata Mutual Fund
Post Budget Analysis : The total fiscal deficit is at Rs 17.86 lakh Crores which has been funded prudently Says Murthy Nagarajan, Tata Mutual Fund
Source: Tata Mutual Fund
1/02/2023 4:24:55 PM
Debt outlook 2023 and recap 2022 by Murthy Nagarajan, Tata Mutual Fund Below the Debt outlook 2023 and recap 2022 by Murthy Nagarajan, Head Fixed Income, Tata Mutual Fund 2022- Macro challenging for Debt Market The current year has been challenging for debt markets as RBI increased repo rates from 4 % to 6.25 % due to high CPI inflation and aggressive hikes by US Federal Reserve. RBI also changed its stance to withdrawal of accommodation to reduce excess liquidity of Rs 7 Lakhs at the beginning of the current fiscal year. Overnight rates which were trading...
Debt outlook 2023 and recap 2022 by Murthy Nagarajan, Tata Mutual Fund
Debt outlook 2023 and recap 2022 by Murthy Nagarajan, Tata Mutual Fund
Source: PR Agency
28/12/2022 12:32:28 PM
Quote on Monetary Policy by Murthy Nagarajan, Tata Mutual Fund Below is quote on Monetary Policy by Murthy Nagarajan, Head - Fixed Income, Tata Mutual Fund “RBI has lowered its GDP growth forecast to 7 % and CPI inflation has been maintained at 6.7 % for the current financial year. 67 % of the fall in forex reserves by 100 billion USD is due to revaluation effect. MPC maintains it stance of withdrawal of liquidity from the system. RBI refuses to state what could be the terminal repo rates and remain date dependent. Overall, the monetar...
Quote on Monetary Policy by Murthy Nagarajan, Tata Mutual Fund
Quote on Monetary Policy by Murthy Nagarajan, Tata Mutual Fund
Source: Tata Mutual Fund
30/09/2022 12:56:37 PM
Quote on Today's Credit Policy Announcement By Murthy Nagarajan, Tata Mutual Fund Below is the Quote on Today's Credit Policy Announcement By Murthy Nagarajan, Head – Fixed Income, Tata Mutual Fund “RBI hiked the repo rates by 50 basis points but did kept CRR rates unchanged in its monetary policy. The repo rate stands at 4.90 %, Standing Deposit Facility (SDF) at 4.65 % and Marginal Standing Facility ( MSF ) at 5.15 % . RBI Increased its CPI projections for the current year to 6.7 % from 5.7 % projected in its May 4 monetary policy.  RBI Governor r...
Quote on Today's Credit Policy Announcement By Murthy Nagarajan, Tata Mutual Fund
Quote on Today's Credit Policy Announcement By Murthy Nagarajan, Tata Mutual Fund
Source: Tata Mutual Fund
8/06/2022 2:18:45 PM
Quote on Monetary Policy by Murthy Nagarajan, Tata Mutual Fund Below is quote on Monetary Policy by Murthy Nagarajan, Head - Fixed Income, Tata Mutual Fund “RBI has prioritized CPI inflation over Growth . This is a big change as RBI has prioritized growth over CPI Inflation . RBI has up the CPI inflation forecast  to 5.7 % from 4.5 % stated  in the February 2022 monetary policy. RBI has introduced uncollateralized  standing liquidity facility at 3.75 % to absorb surplus liquidity form the system throughout the day.  ...
Quote on Monetary Policy by Murthy Nagarajan, Tata Mutual Fund
Quote on Monetary Policy by Murthy Nagarajan, Tata Mutual Fund
Source: Tata Mutual Fund
8/04/2022 2:33:59 PM
Bond market was assuming net borrowing of Rs 9 to Rs 9.5 Lakh Crores - Murthy Nagarajan, Tata Mutual Fund Murthy Nagarajan, Head-Fixed Income, Tata Mutual Fund “Bond market was assuming net borrowing of Rs 9 to Rs 9.5 Lakh crores and total borrowing programme of Rs 12 to Rs 12.75 Lakh crores.  The government has switched short term papers with longer maturity papers with RBI.  RBI  converted  Rs 1.18 Lakh crores of its holding to longer term maturities on 31st January 2021. This included Rs 63000 Crores of 2022 maturity converted to long dated papers. The debt market ...
Bond market was assuming net borrowing of Rs 9 to Rs 9.5 Lakh Crores - Murthy Nagarajan, Tata Mutual Fund
Bond market was assuming net borrowing of Rs 9 to Rs 9.5 Lakh Crores - Murthy Nagarajan, Tata Mutual Fund
Source: Tata Mutual Fund
1/02/2022 4:08:51 PM
The Government will give a road map to reduce the Fiscal Deficit in coming years - Tata Mutual Fund Union Budget Expectations by Murthy Nagarajan, Head-Fixed Income, Tata Mutual Fund “Government debt to GDP ratio is around 90 % .  Total interest payment has  reached 45 % of the net revenue realizable by government in the coming years. The economy is in a recovering rapidly.  Liquidity and monetary conditions are supportive for economic recovery. Globally, central banks are hiking interest rates to control inflation pressure in the economy. Given this background ...
The Government will give a road map to reduce the Fiscal Deficit in coming years - Tata Mutual Fund
The Government will give a road map to reduce the Fiscal Deficit in coming years - Tata Mutual Fund
Source: Tata Mutual Fund
29/01/2022 3:43:20 PM
Views On Fixed Income Outlook - July 2021 by Murthy Nagarajan, Tata Mutual Fund Below are Views On Fixed Income Outlook- July 2021 by Murthy Nagarajan, Head - Fixed Income, Tata Mutual Fund Due to the second wave of Covid-19, Rate hike expectation have been pushed into next financial year provided we do not have a severe third wave and we are able to vaccinate majority of the population. The RBI governor has indicated that premature withdrawal of accommodative monetary policy stance can reverse the trepid growth momentum which has built up in the e...
Views On Fixed Income Outlook - July 2021 by Murthy Nagarajan, Tata Mutual Fund
Views On Fixed Income Outlook - July 2021 by Murthy Nagarajan, Tata Mutual Fund
Source: Tata Mutual Fund
20/07/2021 4:40:54 PM
Views On Fixed Income Outlook - June 2021 by Murthy Nagarajan, Tata Mutual Fund Below are Views On Fixed Income Outlook- June 2021 by Murthy Nagarajan, Head - Fixed Income, Tata Mutual Fund In the Monetary Policy Announcement this month, RBI kept rates unchanged and re-iterated its accommodative stance. RBI has mentioned it will continue to use all instruments at its command and work to revive and sustain growth on a durable basis. RBI Actions RBI announced Government Securities Acquisition Program (G-SAP) of Rs 35,000 Crores in month of May for s...
Views On Fixed Income Outlook - June 2021 by Murthy Nagarajan, Tata Mutual Fund
Views On Fixed Income Outlook - June 2021 by Murthy Nagarajan, Tata Mutual Fund
Source: Tata Mutual Fund
11/06/2021 3:57:16 PM
Quote on RBI Monetary Policy announcement by Murthy Nagarajan, Tata Mutual Fund Below are Quote on RBI Monetary Policy announcement by Murthy Nagarajan, Head-Fixed Income, Tata Mutual Fund “RBI has re iterated its commitment to support durable growth in the economy. For the orderly evolution of the yield curve, RBI has committed 1 Lakh Crores of  buying G Sec in the first quarter ( GSEC acquisition programme) . The first tranche was announced of  Rs 25000 crores  on 15th April 2021. At the same time, it has stated CPI inflation continues to b...
Quote on RBI Monetary Policy announcement by Murthy Nagarajan, Tata Mutual Fund
Quote on RBI Monetary Policy announcement by Murthy Nagarajan, Tata Mutual Fund
Source: Tata Mutual Fund
7/04/2021 3:07:56 PM
Quote On RBI Monetary Policy Announcement  By Murthy Nagarajan, Tata Mutual Fund Below are Quote On RBI Monetary Policy Announcement  By by Murthy Nagarajan, Head-Fixed Income, Tata Mutual Fund The views expressed in this article are personal in nature and in is no way trying to predict the markets or to time them. The views expressed are for information purpose only and do not construe to be any investment, legal or taxation advice. Any action taken by you on the basis of the information contained herein is your responsibility alone and Tata Asset Manag...
Quote On RBI Monetary Policy Announcement  By Murthy Nagarajan, Tata Mutual Fund
Quote On RBI Monetary Policy Announcement  By Murthy Nagarajan, Tata Mutual Fund
Source: Tata Mutual Fund
5/02/2021 12:39:15 PM
The fiscal deficit of 6.8 % of GDP for the next financial year By Murthy Nagarajan, Tata Mutual Fund Below are Views On The fiscal deficit of 6.8 % of GDP for the next financial year By Murthy Nagarajan, Head-Fixed Income, Tata Mutual Fund “The fiscal deficit of 6.8 % of GDP for the next financial year and additional borrowing of Rs 80,000 Crores in the current financial year is clear negative for bond markets. The Nominal GDP growth of 14 % targeted is realistic and the food corporation subsidy being included in the government borrowing  is positive in terms of discl...
The fiscal deficit of 6.8 % of GDP for the next financial year By Murthy Nagarajan, Tata Mutual Fund
The fiscal deficit of 6.8 % of GDP for the next financial year By Murthy Nagarajan, Tata Mutual Fund
Source: Tata Mutual Fund
1/02/2021 3:14:55 PM
Through the Lens- Fixed Income Update Jan 2021 By Murthy Nagarajan, Tata Mutual Fund Below are Views On Through the Lens- Fixed Income Update Jan 2021 By Murthy Nagarajan, Tata Mutual Fund RBI Liquidity Withdrawal * RBI announced, “resumption of normal liquidity management operation” and announced a variable rate 14-day reverse repo of INR 2 trillion. * Usage of words “resumption” and “phased” in the release would denote that this is not a one-off phenomenon and that RBI would use it in a calibrated manner on a continuous basi...
Through the Lens- Fixed Income Update Jan 2021 By Murthy Nagarajan, Tata Mutual Fund
Through the Lens- Fixed Income Update Jan 2021 By Murthy Nagarajan, Tata Mutual Fund
Source: Tata Mutual Fund
25/01/2021 12:32:19 PM