Crackdown on consumer loans necessary; but rural economy will look up in near term, says this market expert
Market expert, Ajay Bagga, expects as many as five rate cuts of 25 bps each by the US Federal Reserve by next December. Back home, he feels the RBI is ahead of the curve with its clampdown on consumer loans amid stress in the rural economy. He sees a huge upsurge in rural consumption ahead as the wedding season kicks off.
Source: moneycontrol.com