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The Reserve Bank of India (RBI) Governor Shaktikanta Das has said the growth momentum in the country continues to be strong, and the official data for GDP expansion in the second quarter will surprise on the upside. Das said inflation is the first priority for the RBI at the moment. He said ‘… looking at the momentum of economic activity, looking at a few early data points that have come in a few early indicators, I can say that the second quarter GDP number as and when it is released at the end of November, in all probability will surprise everyone on the upside’.
He said the RBI estimates the real GDP growth for the second quarter of the current fiscal to come at 6.4 per cent. He said geopolitical uncertainties are the biggest risk to global growth at present, but India is better placed to handle it as compared to other countries. The governor said rates in advanced countries and other international factors are taken into consideration while formulating the monetary policy, but was quick to add that eventually the monetary policy is driven by domestic factors of inflation and growth. He noted that ‘Our monetary policy is not influenced by what is the differential in bond yields (between India and the US) or if currency is depreciating’.
About the country's inclusion in the J P Morgan global bond indices, Das initially admitted that this is a double-edged sword with positives and negatives, but sought to allay fears saying any large volatilities in the financial markets are unlikely. He said the move can get an additional $25 billion into the country as estimated by market participants, but it can potentially lead to an outflow as passive investors' money can move out as the country weightage moves. He said the move to include the country in the indices announced last month speaks of confidence in the country's economy and the financial markets.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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