May 18, 2024

RBI Monetary Policy: Views by Mr.Sumit Chanda, Founder and CEO, JARVIS Invest

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 Quote by Sumit Chanda, Founder and CEO, JARVIS Invest

“The 35bps repo rate hike was expected, however the RBI maintained its hawkish stance on inflation being sticky and the need to maintain its vigil on inflationary expectations. The RBI maintained CPI inflation level projection for FY23 at 6.7% while lowering the FY23 GDP projection to 6.8% from 7% projected earlier. The markets did not react to the news since the policy was in line with their expectations. India continues to be the fastest growing economy in the world, investment activity is gaining traction, rural demand is recovering, and corporate earnings have been good. Global commodity and crude prices have moderated recently, although the trajectory will be keenly watched. We continue to believe that India equity markets are poised to hit new highs. Good time to be invested in equities but stick to asset allocation.”