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Byline: Our Bureaus
Karnataka Bank Ltd has said that the dovish stance of the Reserve Bank of India in the mid-quarter monetary policy review will help long-term interest rates to soften.
Speaking to Business Line, Mr P. Jayarama Bhat, Managing Director of Karnataka Bank Ltd, said it is good that the policy is a forward-looking one. In this, the RBI has acknowledged the risks on the growth side while indicating that further hikes in interest rates may not be warranted.
Dr Devendra Kumar Pant, Director of Fitch Ratings, said the RBI's action is on expected lines. While the sharp decline in the second quarter economic growth was pointing towards a rate cut, …