Views of Mr. Umesh Revankar, MD, Shriram Transport Finance Company Limited on Fourth Bi-Monthly Monetary Policy Statement, 2015-16

Quote/ Views of Mr. Umesh Revankar, MD, Shriram Transport Finance Company Limited

“With 50 bps rate cut, the RBI has provided enough reasons to corporates to cheer. The timing of the rate cut is in line with our expectations. The onus is now on banking fraternity to transfer the rate cut by reducing the interest rates, which will not only bolster the credit environment, but more importantly kick start the investment cycle in our economy.

The overall rate cut in the current year now stands at 125 bps and this should provide much needed impetus to the rural economy, micro, small and medium enterprises (MSMEs) with their cost of funds now coming down leading to improved margins and profitability.”