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

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

“The RBI continues to keep the rates unchanged as it feels there is still some way to go before inflation comes within their expected range, though one must agree that the inflationary pressures have subsided considerably from what it were earlier mainly due to lower crude prices. Also the RBI is waiting for the front loading cuts to get transmitted in the system before going for any more rate cuts. We expect RBI to cut 50 – 75 bps rate cut in the current financial year if the inflation comes under control and we witness normal monsoons. The rate cut is require for the manufacturing industry in specific as the cost of funds is the major worry dogging the corporate India.”