“It is disappointing that the Reserve Bank Governor has left the rates unchanged. The recent demonetization move by the Government had led to substantial liquidity in the banking system. Further,this move has led to the need for a stimulus to the economy. The stimulus could have come by way of a rate cut by the RBI. Unfortunately this has not happened and RBI has maintained a surprise status quo.
A drop in interest rates is extremely essential to aid the growth of the economy at large and also stabilize and boost the real estate sector especially since many developers are struggling with slow sales, high inventory and high debt. A rate cut would have given interim relief to the home buyers of the affordable segment thereby enabling government’s ‘Housing for All’ vision.”
– Mr. Rohit Gera, Managing Director, Gera Developments & VP, CREDAI – Pune Metro
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2014 The Global Indian New Network (TGINN)