Shriram General Insurance CIO Ashwani Dhanawat on RBI Policy
This story was originally published at 12:40 IST on 7 October 2026
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NEW DELHI - Ashwani Dhanawat, executive director and chief investment officer, Shriram General Insurance, said the following on the Reserve Bank of India's fourth bi-monthly monetary policy statement for 2026-27 (Apr-Mar) detailed Wednesday:
The RBI's 25-basis-point hike and shift to a 'calibrated tightening' stance is a prudent, pre-emptive move. With crude above $100, a softer rupee and inflation broadening beyond food, waiting for the full pass-through to show up in CPI would have risked entrenching inflation expectations. The RBI also retained a robust 7.1% growth outlook, which signals confidence that it can tighten without hurting the economy's momentum.
We see this as a shallow cycle rather than a prolonged one. Further action will depend on crude, the currency and the next two inflation prints. For long-term investors like insurers, higher yields offer an attractive opportunity to lock in returns on fresh accruals. We expect bond markets to remain volatile in the near term and will deploy gradually on yield spikes. End
Compiled by Gunjan Rajput
Filed by Himanshi Gupta
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