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Aditya Birla Sun Life AMC CIO Kaustubh Gupta on RBI Policy
This story was originally published at 13:37 IST on 5 June 2026
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MUMBAI - Kaustubh Gupta, chief investment officer, Aditya Birla Sun Life AMC Ltd., said the following on the Reserve Bank of India's second bi-monthly monetary policy statement for 2026-27 (Apr-Mar) detailed Friday:
The Reserve Bank of India delivered a policy rooted in the Tinbergen principle, clearly separating instruments across objectives. While the Monetary Policy Committee remained focused on price stability by keeping the repo rate unchanged, the RBI complemented this with measures aimed at boosting capital inflows. The expansion of the Fully Accessible Route to include new 15-, 30- and 40-year government securities, along with the removal of foreign portfolio investment restrictions under the general route, should enhance foreign participation in government securities and support the government borrowing programme.
From a fixed income market perspective, the widening of the investable universe and easing of participation constraints should improve demand for longer-duration government securities, deepen market liquidity and support a more stable foreign investor presence in India's bond market over time. Alongside the liberalisation of investment norms for non-resident Indians, overseas citizen of India and other overseas individuals, the measures strengthen India's capital account at a time when external financing conditions remain dynamic, while also supporting rupee stability. End
Compiled by Meera Nair
Filed by Deepshikha Bhardwaj
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