<p>Mumbai: The Reserve Bank's decision to hold interest rate was along expected lines, bankers said on Friday, welcoming the RBI's upward revision of the growth estimate.</p>.<p>Indian Banks' Association chairman M V Rao, who also heads state-run Central Bank of India, said the policy moves, including the status quo on repo rate and also the stance were on expected lines.</p>.Forex reserves jump $4.84 billion to new all-time high of $651.5 billion .<p> Moreover, the upward revision in FY25 GDP growth estimate to 7.2 per cent reposes confidence of the central bank in the growth prospects of the economy, he said.</p>.<p> SBI Chairman Dinesh Khara said the growth estimate revision reaffirmed India's continued robust growth post pandemic.</p>.<p>"Domestic growth inflation outlook has moved favourably with inflation moving below 4 per cent in Q2," he said, welcoming the regulatory measures.</p>.<p> The proposed digital payments intelligence platform will harness advanced technologies to mitigate fraud risks, he said, adding that the measures to augment digital payments architecture are pro-customer measures.</p>.<p>Indian Bank's managing director and chief executive S L Jain said policy review shows RBI's careful approach to balancing economic growth while keeping inflation under control.</p>.<p>Among foreign lenders, Standard Chartered's Zarin Daruwala said the central bank's focus on inflation may create room for rate cuts in the coming months.</p>.<p>"RBI's optimism on rural consumption boost basis the forecast of an above-normal monsoon, augurs well for the agricultural sector and the overall rural economy," she added.</p>.<p> Tata Capital's Managing Director and chief executive Rajiv Sabharwal said RBI's collaborative stance and the current market conditions work well for the economy, encouraging lower interest rates and increased investments.</p>.<p> "Collaboration of regulators and market players is important for the growth and evolution of the financial sector," he said. </p>
<p>Mumbai: The Reserve Bank's decision to hold interest rate was along expected lines, bankers said on Friday, welcoming the RBI's upward revision of the growth estimate.</p>.<p>Indian Banks' Association chairman M V Rao, who also heads state-run Central Bank of India, said the policy moves, including the status quo on repo rate and also the stance were on expected lines.</p>.Forex reserves jump $4.84 billion to new all-time high of $651.5 billion .<p> Moreover, the upward revision in FY25 GDP growth estimate to 7.2 per cent reposes confidence of the central bank in the growth prospects of the economy, he said.</p>.<p> SBI Chairman Dinesh Khara said the growth estimate revision reaffirmed India's continued robust growth post pandemic.</p>.<p>"Domestic growth inflation outlook has moved favourably with inflation moving below 4 per cent in Q2," he said, welcoming the regulatory measures.</p>.<p> The proposed digital payments intelligence platform will harness advanced technologies to mitigate fraud risks, he said, adding that the measures to augment digital payments architecture are pro-customer measures.</p>.<p>Indian Bank's managing director and chief executive S L Jain said policy review shows RBI's careful approach to balancing economic growth while keeping inflation under control.</p>.<p>Among foreign lenders, Standard Chartered's Zarin Daruwala said the central bank's focus on inflation may create room for rate cuts in the coming months.</p>.<p>"RBI's optimism on rural consumption boost basis the forecast of an above-normal monsoon, augurs well for the agricultural sector and the overall rural economy," she added.</p>.<p> Tata Capital's Managing Director and chief executive Rajiv Sabharwal said RBI's collaborative stance and the current market conditions work well for the economy, encouraging lower interest rates and increased investments.</p>.<p> "Collaboration of regulators and market players is important for the growth and evolution of the financial sector," he said. </p>