El-Nino, below normal monsoon pose risk for growth, inflation outlook in FY27: HDFC Bank MD
HDFC Bank MD Sashidhar Jagdishan warned that global geopolitical tensions, El-Nino, and a below-normal monsoon could impact India's growth and inflation in the 2026-27 fiscal year. Despite these risks, he remains optimistic about India's long-term economic fundamentals and policy stability.
The global macroeconomic environment remained challenging as the lingering impact of the West Asia conflict could weigh on global growth & inflation and the turn towards monetary tightening by major central banks remained a risk for global liquidity and growth, said India’s biggest private sector bank HDFC Bank’s MD & CEO Sashidhar Jagdishan in his message for shareholders in the bank’s latest annual report which was released on Saturday (July 11, 2026).
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