RBI will strike a fine equilibrium between sustaining economic growth and ensuring price stability, says Umesh Revankar of Shriram Finance.
MUMBAI, Aug 2 (The CONNECT) - With the inflation level staying within the tolerance limit of below 6%, RBI is expected to continue with their stance of pausing policy rate hikes for the next interest cycle, according to Umesh Revankar, Executive Vice Chairman, Shriram Finance.
The Union Government has taken the right step by banning exports of non-basmati rice in a bid to cool down consumer price inflation.
“With respect to credit measures, we expect that the central bank will take steps to bolster credit availability and foster an enabling financial ecosystem,” Revankar said.
India’s farmer community, having had to face the brunt of an uneven monsoon, can expect some financial assistance or relaxation in credit norms.
“We are confident that the RBI will strike a fine equilibrium between sustaining economic growth and ensuring price stability,” he added.