Views of Mr. George Alexander Muthoot, MD, Muthoot Finance on RBI Monetary Policy

Views of Mr. George Alexander Muthoot, MD, Muthoot Finance on RBI Monetary Policy:

"Though the inflationary pressures have subsided in the near term, from a medium term objective, the inflationary risks are still on the upside, so keeping the rates unchanged is a more cautious decision by the RBI.

Besides, it is good to see that the purview of policy review expanding beyond pure play rate scenarios to including roadmap on key issues. So we welcome RBI’s view on guidelines of small and payments by November 2014, further simplification of KYC norms for customers and not to forget the changes in the regulatory framework for the NBFCs expected by October 2014. All this will not only bring in more transparency, increase customer’s ease, bring in quality NBFC players, but more importantly a steady progress towards our key goal of financial inclusion."