RBI Policy To Boost Rupee, Ensure Financial Stability: Bankers
NDTV
Bankers have welcomed the front-loading of rate hikes by the RBI and changing the accommodative stance to resolutely bring inflation under control.
Bankers have welcomed the front-loading of rate hikes by the RBI and changing the accommodative stance to resolutely bring inflation under control and help prop up the falling rupee.
The Reserve Bank on Friday raised the key interest rate by 50 basis points to 5.40 per cent -- the third straight increase since May. With the latest hike, the repo rate or the short term lending rate at which banks borrow has crossed the pre-pandemic level of 5.15 per cent.
Dinesh Khara, chairman of the nation's largest lender State Bank of India (SBI), said the policy reaffirms the commitment to bring inflation down further and ensure financial stability in the markets.
The RBI, in harmonising key measures, has ensured that the economy remains cushioned to the maximum extent from the impact of inflation in everyday lives by ensuring broad-based participation in G-Secs and the forex market.
