Quote of Mr. Govind Sankaranarayanan, Chief Operating Officer – Retail Business & Housing Finance, Tata Capital post today’s monetary policy.
“The Indian economy’s revival – expressed through an increase in GDP growth rate and the first Moody’s rating upgrade in 14 years does not seem to have deterred the monetary policy committee from maintaining the status quo for a second session in a row. Global cues by central banks – which have been tightening their monetary stance coupled with more domestic issues related to commodity prices, market liquidity, hardening bond yields and more importantly rising inflation – which could rise to 4.5% from 3.58% in October 2017 have influenced the RBI’s recent decision to adopt a wait-and-watch stance. From an NBFC standpoint, we do not expect it to have a significant effect. At Tata Capital, we have seen a 25-30% growth in personal loan disbursement, especially for our wedding loans, auto loans and white goods, owning to the upcoming festive and wedding season and year end attractions offered by big retail and auto dealers.”
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