Mr. Brotin Banerjee, MD & CEO, Tata Housing Development Company on the RBI rate cut proposed in the Monetary Policy today.
“The proposed repo rate cut of 25 basis points by the RBI is a welcome move. It is now important that the cumulative rate cut amounting to 0.75 per cent since January this year, gets translated into the lending rates being offered by the banks and financial institutions to the consumers. The monetary policy has been a good initiative to tackle the problem of medium term supply side constraints given the slow pace of economic revival in the country. However, depending on the revival in the fiscal condition of the economy we are hopeful that there are further rate cuts and that the RBI will take a call on this accordingly.”
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