P D Singh, CEO, India & South Asia, Standard Chartered Bank, said, “Though a cease fire has been reached today, the West Asia crisis and the potential risks to the global economy, including India, have led to the regulator maintaining a status-quo on the policy rates. For this year, RBI has marginally reduced the growth outlook to 6.9% while acknowledging that such escalations could pose further downside risk. However, the resilience in the Indian economy owing to the structural measures undertaken by the Government, the regulator, reiterated will enable the economy to navigate choppy waters.
The measures to enhance capital metrics through review of the incremental provisions on non-performing assets and the investment fluctuation reserve, improving ease of trade business for MSMEs and development of the term money market continue the structural business-friendly measures announced by RBI.”
