South Indian Bank – Quote by Mr. Murali Ramakrishnan on RBI’s Monetary Policy
“We agree with the RBI’s continued withdrawal of accommodation measures to rein in inflation without denting the economy’s growth prospects. The revision of the repo rate by 25 basis points to 6.5 percent is a calibrated one as it further tries to control inflation while ushering in overall growth. We anticipate that this will be the last of the announcements in the rate-tightening cycle that began less than a year ago. Though inflation will remain above the targeted level for some time to come, it will not remain as big a threat. We look forward to a period of buoyant economic activity after grim three-odd years.”Mr. Murali Ramakrishnan – MD and CEO of South Indian Bank.