Views of Mr Umesh Revankar MD and CEO

 Views of Mr. Umesh Revankar, MD and CEO, Shriram Transport Finance on monetary policy

RBI reiterated its accommodative stance to continue for as long as necessary while keeping rates unchanged, as broadly expected. The focus has been on easing financial conditions, keeping liquidity very comfortable in the system and reducing the cost of money through on-tap Rs. 1 lakh crore TLTROs and OMOs in state development loans. 

Sectors of economy like FMCG, agriculture, autos and warehousing among others have been more resilient than others in Q2 and this augurs well for transport industry that ensures last mile connectivity. RBI’s policy measures will have a positive impact for those engaged in last mile lending as rural & semi-urban economy is continuing to show strong recovery.”

 

Post the RBI announcement, here are the views of

Post the RBI announcement, here are the views of Mr. Umesh Revankar, MD and CEO, 

Shriram Transport Finance.

“Given the current economic scenario, RBI announcement to cut the repo rate by 40 bps is in line with India Inc expectations. 

With lockdown reaching its near end and businesses are resuming, we hope banks will now be encouraged to start lending to essential sectors like MSMEs and NBFCs to kickstart the economy. 

The reduction in reverse repo rate will discourage banks to park money with RBI.

We appreciate all the efforts taken by the RBI and Finance Ministry to stabilize the economy .”

Views of Mr. Umesh Revankar

Views of Mr. Umesh Revankar, MD and CEO, Shriram Transport Finance on FM announcement

We welcome the stimulus announcement made by the Finance Minister. The package  addresses the concerns of both NBFC and MSME sectors. 

Under the full and partial guarantee scheme, we expect boost to liquidity into the NBFC eco system which in turn would help MSMEs to resume their operations. All in all it is an excellent package and we hope to see the quick revival of the economy in the coming few quarters."