HDFC VC and CEO Keki Mistry, in chat with Anil Singhvi, reveals his views on Monetary policy announcements
In a chat with Zee Business Managing Editor Anil Singhvi, HDFC Vice Chairman (VC) and Chief Executive Officer (CEO) Keki Mistry speaks on the Reserve Bank of Indias (RBI) decision to open TLTRO for NBFCs and its impact on them and on HDFC. The Monetary Policy announcements were made on Friday by RBI Governor Shaktikanta Das
In a chat with Zee Business Managing Editor Anil Singhvi, HDFC Vice Chairman (VC) and Chief Executive Officer (CEO) Keki Mistry speaks on the Reserve Bank of India’s (RBI) decision to open TLTRO for NBFCs and its impact on them and on HDFC. The Monetary Policy announcements were made on Friday by RBI Governor Shaktikanta Das.
TLTRO is Targeted Long Term Repo Operations which is used to finance credit institutions.
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He said that this was a welcome news for the NBFCs, and they will be able to borrow money at lower rates. He also lauded the overall policy announcements by the banking regulator and said that the stance on liquidity remains unchanged. The RBI has not only kept its stance accommodative but also not changed the key policy rates, he further said.
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He also said that there will be no impact on the interest rates because of the gradual increase in the CRR rates, going forward. Cash Reserve Ratio or CRR is the amount of funds that banks must maintain with the RBI, at all times.
The VC and CEO also said that the loan growth has been good as has been indicated by RBI. It has picked up substantially from the March-April levels, he said.
The RBI Governor today left interest rates unchanged for the fourth time in a row. Repo rate is currently at 4 pct. The banking regulator has also kept the reverse repo rate at 3.5 per cent. Das said that the GDP is likely to be at 10.5 per cent for FY 21-22. He said that while announcing the bimonthly Monetary Policy speech. The Governor further said that the CPI inflation is estimate at Q4 FY21 - 5.4 per cent. For FY21- 22 H1 the CPI (Core Inflation) is estimated at 5.2-5 per cent.
The RBI Governor also said that its accommodative stance will continue.
The governor today said that there has been a marked improvement in the growth outlook of the country. He attributed it to the coming of the coronavirus vaccine. He said that it was the need of the hour to support the growth. He said that the domestic businesses have also shown significant improvement.
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