On the bi-monthly policy review of the central bank, Indian Banks Association (IBA) Chairman and Managing Director and UCO Bank Chief Executive Officer (CEO) AK Goel said these measures are in line with expectations. “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. It’s actually a positive sign.”
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.
National Payments Corporation of India (NPCI) Chief Executive Officer Dilip Asbe tweeted that the target of one billion transactions a day is not too far now. 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.
Private sector HDFC Bank chief economist Abhik Barua said the RBI’s policy stance is more lenient 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.
Among non-banking lenders, Tata Capital’s Rajiv Sabharwal said the economy has picked up in the last six months, but the central bank wants a more comprehensive revival.
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.