View on RBI Monetary Policy - Lakshmi Iyer, CIO (Debt) & Head of Products, Kotak Mutual Fund

The RBI announced a slew of measures to strengthen the financial system in this hour of crisis. The policy measures announced are big moves by the central bank to address concerns on liquidity and facilitating flow of credit in the economy. This will ensure that adequate liquidity is available in the system to tide over the prevailing crisis period. The central banker has adopted a 4 pronged approach to manage the financial system,

- Increase liquidity - INR3.74tn additional liquidity offered
- Lower policy rate and likely leading to better transmission of the cut policy rate
- Provision of loan moratorium and asset classification forbearance
- Managing forex situation

I am reminded of the song from Hera Pheri - Dene wala Jab bhi deta, deta chappar phad ke.

Shares of KOTAK MAHINDRA BANK LTD. was last trading in BSE at Rs.1397.95 as compared to the previous close of Rs. 1389. The total number of shares traded during the day was 363333 in over 24477 trades.

The stock hit an intraday high of Rs. 1452.15 and intraday low of 1376. The net turnover during the day was Rs. 512762710.

Source : Equity Bulls

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