RBI may cut rate by at least 25 bps in next 6 months: Mirae's Swarup Mohanty
Subscribe to enjoy similar stories. Mirae Asset Investment Managers entered India at the fag end of 2008, just as the global financial crisis took hold. Between 2008 and 2011, its assets under management (AUM) saw little growth, even as 12 major foreign players, including Standard Chartered, AIG, Fidelity, and Morgan Stanley, exited the market.
However, since then, Mirae's AUM has surged to nearly ₹2 trillion as of 31 August, marking a significant turnaround. The fund house is betting big on exchange traded funds (ETF) and believes it has the strongest back-end to be the best in this space. In an interview with Mint, Swarup Mohanty, vice chairman & CEO, Mirae Asset Investment Managers (India) discussed upcoming RBI policy, GDP growth, changing risk profile of investors, plans in GIFT City, and the use of artificial intelligence in the fund management industry.
Here are the edited excerpts: The Reserve Bank of India's last available guidance indicates that there is no urgency to cut interest rates anytime soon. Fed has earlier this month already kicked-off the rate easing cycle with a big cut of 50 basis points. India is integrated with the global economy and perhaps cannot continue to move in the opposite direction for very long.
Globally, inflation is easing after rising in the last few years. First, the services-related inflation rose in the aftermath of covid-19 followed by a sharp rise in food and energy prices following the Russia-Ukraine war. However, inflation has seen a strong downtrend recently with the easing of commodity prices, especially oil, even as the geopolitical situation remains very volatile.
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