Sachin Sawrikar, Managing Partner, Artha Bharat Investment Managers IFSC LLP on RBI Monetary Policy announcement

“The MPC held rates, as expected. The backdrop has become genuinely complex. Wholesale inflation is rising, the rupee has weakened, monsoon risks are real, and energy markets remain under structural stress. A neutral stance today does not imply a neutral trajectory. If West Asia does not stabilise and crude stays elevated, a rate hike in H2 FY27 is no longer a tail risk. It is a scenario markets may not be fully pricing in. India’s fundamentals are stronger than in prior shocks. But resilience is not immunity. The vote was never in question. The path forward is.”