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Informist, Wednesday, Aug. 5, 2026

 

MUMBAI - Debopam Chaudhuri, Chief Economist, Piramal Group, said the following on the Reserve Bank of India's third bi-monthly monetary policy statement for 2026-27 (Apr-Mar) detailed Wednesday:

 

The RBI's decision to maintain both the policy rate and its neutral stance was widely expected, but the 40 basis points downward revision in the Q2 (September quarter) inflation forecast was the key surprise. By reiterating that inflation remains largely supply-driven rather than broad-based, the MPC has created room for another pause in October before any potential rate hike in February. This should cap any sharp rise in corporate borrowing costs over the next few months and provide greater funding certainty for banks, non-banking financial companies and corporates.

 

Unlike the recent market reaction to the US Federal Reserve's pause, Indian bond and equity markets have remained stable after RBI's pause, reflecting stronger investor confidence in the Indian central bank's ability to balance inflation management with growth. This is a positive for FPI and FDI inflows. With crude oil below $80 per barrel and expected FCNR(B) inflows supporting rupee liquidity, the macro environment has become more favourable for India despite global uncertainties.  End

 

Compiled by Diksha Tripathy

Filed by Akul Nishant Akhoury

 

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