MD, CEO of Tata Capital Rajiv Sabharwal`s Quote on Monetary Policy
RBI remains guarded against any adverse impact that may arise on account of the new Omicron Covid-19 variant.--Rajiv Sabharwal
Rajiv Sabharwal, MD & CEO, Tata Capital Ltd:
NEW DELHI: Monetary Policy Quote from Rajiv Sabharwal, MD & CEO, Tata Capital Ltd:
1. RBI maintains the rate status quo and continues with the accommodative policy stance. The economy has gained growth momentum over the last 6 months, however, RBI will want to further nurture a broad-based recovery and will also aim at the sustainability of the same.
2. There is no upward change in the reverse repo rate as contrary to market anticipations. Also, at this juncture, RBI remains guarded against any adverse impact that may arise on account of the new Omicron Covid-19 variant.
3. Although inflation remains a concern, moderation of crude prices and the recent cut in excise duty will work in favour for the inflation trajectory. Also, Inflation is expected to be within the comfort corridor of the RBI.
4. Over the last 2 months, RBI has been using various tools that has helped absorb excess liquidity from the system. The market has taken cue of this passive approach adopted by the RBI to normalize liquidity and we have seen rates move up across the yield curve. Further, RBI has once again assured the markets that adequate systemic liquidity will be maintained to achieve growth and stability.
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