Rate Cut: BOLD WELCOME STEPS BY RBI
Perspective on the Announcement made by the RBI on the
rate cut by Mr. Shishir Baijal, Chairman & Managing Director,
Knight Frank India
“BOLD WELCOME STEPS BY RBI”
“We are delighted with the Reverse Bank’s announcements
which has far exceeded the expectations of the industry.
The apex bank RBI has
checked all the required boxes of rate cut, liquidity infusion and moratorium. These
steps will help the economy to stay stable despite the lockdown and economic
disruption.
The sharp repo rate cut of 0.75% by RBI is a step in the
right direction. Sharper cut in reverse repo rate by 0.90% will compel banks to
lend instead of parking surplus liquidity with the RBI.
The cut in CRR by 1.00% and the TLTRO will infuse liquidity
in the systems, which seems to be the crying need of the hour.
 |
| Shishir Baijal, Chairman & Managing Director, Knight Frank India |
The moratorium
of 3 months for all term loans and deferment of interest on working capital by 3
months will be very helpful at this point when most businesses are unable to
have a steady cash flow.
We are hopeful that these measures will be complemented by
further fiscal stimulus measures by the Central and State Governments to
support demand in the economy.
We welcome these measures by RBI and see this as
a big relief for the economy in general and for the real estate sector which
would have been one of the worst effected owing to its linkages with overall
economy”.
No comments:
Post a Comment