RBI policy on expected lines, upgrading GDP growth estimate reposes confidence: Bankers
interest rate was along expected lines, bankers said on Friday, welcoming the RBI's upward revision of the growth estimate. Indian Banks' Association chairman M V Rao, who also heads state-run Central Bank of India, said the policy moves, including the status quo on repo rate and also the stance were on expected lines.
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Moreover, the upward revision in FY25 GDP growth estimate to 7.2 per cent reposes confidence of the central bank in the growth prospects of the economy, he said.
SBI Chairman Dinesh Khara said the growth estimate revision reaffirmed India's continued robust growth post pandemic.
«Domestic growth inflation outlook has moved favourably with inflation moving below 4 per cent in Q2,» he said, welcoming the regulatory measures.
The proposed digital payments intelligence platform will harness advanced technologies to mitigate fraud risks, he said, adding that the measures to augment digital payments architecture are pro-customer measures.
Indian Bank's managing director and chief executive S L Jain said policy review shows RBI's careful approach to balancing economic growth while keeping inflation under control.
Among foreign lenders, Standard Chartered's Zarin Daruwala said the central bank's focus on inflation may create room for rate cuts in the coming months.
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