RBI Monetary Policy: Bankers happy with RBI’s decisions, welcomes digital payment system
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Reserve Bank of India: Bankers have justified the Reserve Bank’s decision to continue with its slack in the monetary policy review. Along with this, top executives of various banks have also welcomed the announcement of regulatory measures for digital payments and keeping the GDP growth forecast at 9.5 per cent amid concerns about the Omicron nature of Kovid-19. .
Chairman of IBA said this
Chairman and Managing Director of Indian Banks Association (IBA) and Chief Executive Officer (CEO) of UCO Bank AK Goyal on the bi-monthly policy review of the central bank. Said that these measures are in line with expectations. He said, ‘‘Despite the change in the macroeconomic scenario, there has been no change in the growth and inflation projections of RBI for the current financial year. This is indeed a positive sign.’’
Incentives being given to digital platforms
He said that through its initiative on digital payments, the central bank is encouraging people to use digital medium. State Bank of India (SBI) Chairman Dinesh Khara said that the announcement of infusion of capital in foreign branches without prior approval of the central bank will bring flexibility in operations.
soon 1 billion transactions in a day
National Payments Corporation of India (NPCI) Chief Executive Officer Dilip Asbe tweeted that the target of one billion transactions in a day is not too far now Is. On raising the UPI limit for Initial Public Offering (IPO), he said that NPCI’s platform has expanded the IPO market and the measures announced can prove to be very positive for IPO investment.
Good sign for the economy
Private sector HDFC Bank’s Chief Economist Abhiq Barua said that the policy stance of the Reserve Bank is more liberal than expected. Standard Chartered Bank’s chief executive officer for markets in India and South Asia, Zareen Daruwala, said the pro-growth stance of the MPC is very clear and is a good sign for the economy.
Economy picks up pace in 6 months
Tata Capital’s Rajiv Sabharwal among non-banking lenders said the economy has picked up in the last six months, but the central bank is planning a more comprehensive revival. wants. Religare Enterprises Executive Chairperson Rashmi Saluja said the decision to keep the repo rate unchanged is good for home buyers and small businesses, as they can take advantage of lower interest rates.
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