Views of Mr. George Alexander Muthoot, MD, Muthoot Finance on Sixth Bi-Monthly Monetary Policy

Quote/ Views of Mr. George Alexander Muthoot, Managing Director, Muthoot Finance Ltd:

“The central bank maintained the key rates with 50 bps cut in SLR, which will infuse extra liquidity in the broader market. We welcome RBIs announcement of doubling the overseas remittance limit from $125,000 to $250,000 per person per year, thus facilitating Indians with improved liquidity to acquire and hold shares, debt instruments or other assets outside India without prior approval of the RBI.  The government is also committed to ensure that the remittances for current account transactions is smoothen and thus time to time amendments shall be included in the limit.”