Sudip Bandyopadhyay Group Chairman of Inditrade (JRG) Group of Companies, sits on the Boards of a number of companies. He was MD of Reliance Securities (Reliance Money) and on the Board of several Reliance ADA Group companies. Also, former MD and CEO of Destimoney, promoted by New Silk Route.
IN early April, when the Monetary Policy Committee (MPC) met, after reviewing the current and evolving macroeconomic situation, it decided to keep benchmark interest rates unchanged. It also assured that it would remain accommodative as long as inflation remained within its target. Then, barely a month later, in early May, the MPC announced an increase in key interest rates, for the first time since August 2018. And, it was the sharpest increase in 11 years! In April, the RBI recognized the escalation in geopolitical conflict and accompanying sanctions were causing steep and substantial rises commodity prices, across the board, amidst heightened volatility. Commodity trade was being impacted quite adversely and crude oil prices spiked to a 14-year high in early March; despite some correction, they remain volatile at elevated levels.
This story is from the June 2022 edition of Indian Economy & Market.
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This story is from the June 2022 edition of Indian Economy & Market.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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