Quote from Mr. Murali Ramakrishnan, MD &CEO, South Indian Bank | RBI MONETARY POLICY
“RBI’s monetary policy is a well-timed and calibrated one, drawn on expected lines to buffer the current challenges of turmoil in global financial markets that has affected economies worldwide. The revision in the repo rate by 50 basis points (5.9%) and SDF to (5.65%) are much needed measures to rope in the concern of inflation. The Indian economy has remained resilient in spite of global headwinds in an environment wherein recessionary fears are mounting and inflation is high; projected growth though revised will be understandably muted given global economic factors. However, the domestic growth, we trust, will continue to show positive trend and will pick up in FY24.”
– Mr. Murali Ramakrishnan, MD &CEO, South Indian Bank
