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Pointing out that the Reserve Bank of India’s monetary policy as “pragmatic”, Chandra Shekhar Ghosh, MD & CEO, Bandhan Bank, pointed out that uncertainties in the external sector, rising crude prices and sticky core inflation have led to this decision.
Although the RBI has kept its policy rate unchanged, the central bank has changed its stance from “accommodative” to “neutral”.
“The Reserve Bank of India has kept its policy rate unchanged at 6.25 per cent but changed the stance of the monetary policy from accommodative to neutral. Uncertainties in the external sector, rising crude prices and sticky core inflation have led to this decision,” Ghosh said.
“However, the central bank has committed to ensure efficient and appropriate liquidity in the banking system with all the instruments at its command. Its decision to bring down inflation closer to 4 per cent on a ‘durable basis’ in a calibrated manner is laudable. It is a pragmatic policy, par for the course,” he further added
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