RBI monetary policy positive for equity markets: Edelweiss' Aditya Narain
The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) kept the repo rate unchanged in the first bi-monthly monetary policy meeting for the financial year 2021-22, governor Shaktikanta Das said on Wednesday. With no change this time as well, the repo rate currently stands at 4 percent. The reverse repo rate has been maintained at 3.35 percent. Aditya Narain, Head of Research Institutional Equities at Edelweiss Securities shared his views.
The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) kept the repo rate unchanged in the first bi-monthly monetary policy meeting for the financial year 2021-22, governor Shaktikanta Das said on Wednesday. With no change this time as well, the repo rate currently stands at 4 percent. The reverse repo rate has been maintained at 3.35 percent. Aditya Narain, Head of Research Institutional Equities at Edelweiss Securities shared his views.
“I think this is a very good policy for the equity markets. This policy has put in context the prioritization of growth over almost everything and the prioritization of providing funding for this growth,” he said.
“What is worrying for the market is the fact that global bond rates are going up or interest rates could fundamentally rise. This policy has gone as far as it could in saying that we are going to protect you against that. In that context, this is more than what the equity markets could have asked for,” he added.
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(Edited by : Abhishek Jha)
First Published: Apr 7, 2021 3:47 PM IST
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