RBI Monetary Policy: From Repo Rate Cut To Trimmed GDP Target- Key Decisions Announced Today

The RBI’s focus on ensuring adequate liquidity and enhancing credit availability provides confidence to both lenders and borrowers, said Girish Kousgi, managing director and chief executive officer at PNB Housing Finance.

"We see this as an opportunity to further strengthen our retail loan portfolio and support the government’s vision of ‘Housing for All.’ We expect this policy stance to positively influence buyer sentiment and encourage more people to fulfil their aspiration of owning a home.” said Mr. Girish Kousgi, MD&CEO PNB Housing Finance

The RBI Governor Sanjay Malhotra on Wednesday said that there is no need to speculate on IndusInd Bank and will have to wait for the audit report. He further added that through various means there is a need to ensure such events occur less frequently. He further added that he would not like to get into individual entities.

KYC is still a topic of priority for the RBI, said Governor Malhotra. He further added that the RBI is looking for making the KYC process simple, easier and at the same time cheaper. In order to do this RBI is working with the Banks and the other parties. However, this is a difficult process as there are many regulators in India and it will take time as banks need to bring changes in its systems.

Rupee is quite stable, and India has sufficient reserves said RBI Governor Sanjay Malhotra. India's deficit is sustainable going forward and according to him India is not in any stressful situation.

He further added that there is a need for good growth in capital.

Talking on the tariffs RBI Governor Sanjay Malhotra said that the impact of tariffs on India will be lesser in comparison to the other countries. India will have a comparative advantage and RBI will intervene if there is an excessive volatility in Rupee.