Views of Mr. Umesh Revankar, MD, Shriram Transport Finance Company on RBI Monetary Policy

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

“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.

What is also good to know is that the RBI is also focusing on shaping up the NBFC sector for long term and the revised regulatory framework for the NBFCs (expected by the end of October 2014) will bring about focus on NBFC contribution to unbanked sector of small business. That also will see influx of quality NBFC players, healthy competition, increased transparency, credibility in the sector and most importantly go a long way in growth of Indian Economy through small business and rural enterprises.”