Veteran banker Uday Kotak on Wednesday said he expects a 50 basis points rate hike by Reserve Bank of India (RBI) by March 2019.
“I do believe that between now and March 2019, we would see 50 bps further rate hike,” Kotak said.
The rupee's depreciation poses a big challenge for corporate India even as it works to get its animal spirits back, he said, adding that policy-makers need to pay more attention to ensure that the recovering growth engines don't fizzle out.
“I am seeing a significant growth in micro demand and Indian business and industry is feeling good after a long time," Kotak said.
On the ground, we are seeing a pick up across different sectors, he added.