homevideos Newsmarket NewsFM’s new measures more beneficial for smaller financial institutions: Avendus Capital
FM’s new measures more beneficial for smaller financial institutions: Avendus Capital
Finance minister Nirmala Sitharaman’s measures will be positive for smaller financial institutions, said Andrew Holland, chief executive officer (CEO) of Avendus Capital Public Markets Alternate Strategies, on Tuesday.
Finance minister Nirmala Sitharaman’s measures will be positive for smaller financial institutions, said Andrew Holland, chief executive officer (CEO) of Avendus Capital Public Markets Alternate Strategies, on Tuesday.
The finance minister, on Monday, announced eight economic relief measures to boost the economy, which has been hit by the second wave of infections that was dubbed as the world's worst COVID-19 surge.
Speaking in an interview with CNBC-TV18, Holland said, “It’s not a package which is more direct to get the economy moving; it’s to help the banks lend more and maybe favour some of the smaller banking names rather than the larger banking names. So, it’s just a help; it’s not going to move the needle, it’s not going to hurt the deficit too much, but it’s just a helping hand along the way.”
On equity markets, he said, “We are reasonably invested but with the caution that market has hit new highs. It feels, both locally and globally, a bit fatigued at the moment. Globally there is a lot of worry about growth and it’s a bit patchy at the moment. However, the debate continues about inflation or no inflation.”
According to him, the longer-term growth prospects for India continues to look up. “Nothing takes away from the longer-term prospects for India and that’s for sure. However, there are a number of red flags which seem to be ignored; one is the small and midcap rally that we have seen,” said Holland.
He further mentioned that there are some good initial public offerings (IPOs) coming up in the next few months in India.
For the entire interview, watch the video
(Edited by : Dipika Ghosh)
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