Mumbai, India, June 6 — The RBI’s measures announced post-MPC meeting are aimed at turning the narrative of the indian rupees from one of depreciation risk to that of flows — said SBI research and Kotak Securities in their research reports.
SBI in its report has projected at least $40 billion of capital flows that can take the indian rupees back to 92-93 levels. Kotak in its full package scenario has estimated $50-75 billion of capital flows. Both SBI Research and Kotak Securities expect MPC to pause in August and keep repo rate at 5.25% in neutral stance even as inflation vigilance increases and growth forecast gets trimmed.
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