Industry & Economy
-
Credit Policy
Bombay Chamber welcomes credit policy
Our Bureau
Mumbai
,
April 28
THE Reserve Bank of India's Annual Policy Statement has drawn appreciation from various quarters.
The Bombay Chamber of Commerce and Industry appreciated the initiative to introduce a structured approach to provide distinctive focus between monetary policies and regulations.
Mr Ashwini Kakkar, President, welcomed the measures towards institutional development by bringing out vision document in the area of payment system and financial sector technology.
However, he said: "While the steps to deepen the money and G-Sec markets are welcome, non-inclusion of corporate repo while phasing out non-banks from call market is a disappointment."
According to Mr Ajay Bagga, CEO of Kotak Mahindra Asset Management, the bond markets are expected to stay volatile for the medium term.
"Mutual funds have been running low duration portfolios, investing at the shorter end and trading on the margin to generate better than cash returns. This trend will continue."
Mr Dipak Gupta, Executive Director of Kotak Mahindra Bank, said that an interesting change this time has been the comments of the RBI Governor on the five key developmental and regulatory aspects.
"A case in point is the recognition of the fact that lending rates need to be linked to the credit risk associated with the borrower," he added.
Article
E-Mail
::
Comment
::
Syndication
::
Printer Friendly Page
|
