L&T Finance CEO Backs RBI MPC, Sees Credit and Growth Boost

By Mr. Sudipta Roy, Managing Director & CEO, L&T Finance Ltd.

“MPC announcements this morning were the right balance of prudence in monetary policy actions while easing credit conditions in the real economy. The status quo in policy rates was along the expected lines. However, the real action was contained in the various measures announced to improve the flow of credit in the economy. Measures like the glide path towards ECL framework, expanding scope of capital market lending, removing restrictions on collection accounts etc. are all aptly timed and will help the financial system to aid aspirational growth levels. RBI upgrading growth expectations for the current fiscal year is also a big reassurance of strong domestic momentum despite external headwinds. The Governor’s message of alignment in all domestic policies- fiscal, monetary, and regulatory, towards Viksit Bharat goals has taken the focus away from short-term external challenges towards domestic resilience and medium-term economic potential.”