Mr V S Parthasarathy, Group CFO, Mahindra Group on the new RBI credit policy:


“In a world that is seeing prevarications on monetary policy, the RBI has been widely praised for its handling of Indian monetary conditions. Today in keeping with their stance, the RBI did a “no show” on the rate front, reserving the right to act at the appropriate turn of events. That having been said demand, both global and Indian, looks vulnerable and a rate action at this time could have provided  the stimulus for growth. Going from here, the markets do expect future rate cuts  and we hope that what is missed this time will be delivered twice over the next time! Employing the DOSA’NOMICS of Dr Rajan, ‘Dosa delayed I hope will not be dosa denied for all time’

 

The focus is also shifting to tightening liquidity – bank credit, particularly consumer credit is showing traction but liquidity conditions according to reports, are not so favourable. I do trust the RBI would act soon to shore up liquidity and ensure ease of credit for growth requirements.”

 

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