Calling the move “timely and impactful,” Gera said the lower interest rate environment would directly ease the financial burden on prospective homebuyers.

“Lower repo rates translate into lower borrowing costs, and that directly benefits homebuyers. This cut will improve EMI affordability and pull some fence-sitters back into the market,” Rohit Gera noted.

The rate cut comes at a time when housing demand across key metros has remained robust, even as overall affordability has been under pressure due to rising property prices. With EMIs set to fall as banks pass on the benefit of cheaper credit, the industry expects a fresh wave of enquiries and conversions in the upcoming quarters.

Gera added that the move would not only support buyers but also bring relief to developers, many of whom have been navigating tight liquidity conditions amid elevated construction costs.

“For developers, it supports both sales velocity and liquidity,” Rohit Gera said, highlighting that improved access to funding could help accelerate project execution timelines and overall industry stability.

“The timing is helpful because demand is strong, but affordability remains stretched in several metros,” Gera further emphasized.

The real estate sector, which has witnessed record sales over the past two years, is likely to view the rate cut as a catalyst for sustaining growth, especially in the mid-income and premium housing segments.

Economists expect banks and housing finance companies to announce revised lending rates in the coming weeks, paving the way for reduced EMIs and improved affordability for millions of potential homebuyers.

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Insights from Dilip Modi, Founder & CEO, Spice Money, on the Surge in Digital Payments: Analyzing RBI Data

India is in the midst of a financial revolution, driven by the rapid rise of digital infrastructure, payments adoption, and data-driven credit enablement. The RBI’s Digital Payments Index, which rose 10.7% year-on-year to 493.22 as of March 2025, and the over 65,000 crore digital transactions amounting to ₹12,000 lakh crore recorded over the past six financial years, as recently mentioned in Parliament, are strong indicators of this transformation, highlighting the depth and scale of this transformation.

What is especially encouraging is that this growth is not confined to metros; it is reaching tier 2, 3, and rural areas, powered by targeted initiatives like the Payments Infrastructure Development Fund and collaborative efforts across government, RBI, NPCI, fintechs, and banks.

In parallel, we are also witnessing a fundamental shift in how credit is assessed and delivered. The launch of the New Digital Credit Assessment Model for MSMEs also signals the transition from traditional underwriting to real-time, data-driven evaluation.

Together, these developments mark a new chapter in India’s financial journey, one that is digital-first, inclusion-led, and innovation-driven. For the fintech industry and financial inclusion players like us, this is an unprecedented opportunity to unlock economic potential at the grassroots and build a truly inclusive digital India.

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However, the real impact will be felt only if banks swiftly pass on these benefits to borrowers through reduced home loan interest rates. This will not only empower aspiring homebuyers but also support the government’s vision of ‘Housing for All’ and accelerate overall growth in the real estate sector.”

Shares Rohit Gera, Managing Director, Gera Developments

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This welcome move from the RBI comes after the SEBI’s directive to allow a UPI-based block mechanism for funding secondary market trades in the capital market. Overall, the use cases for UPI are increasing. This augurs well for both the consumer as well as for the industry, as payments become more efficient and convenient.” said Rahul Jain, CFO of NTT DATA Payment Services India

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MUMBAI: The Reserve Bank of India (RBI) Deputy Governor Shri T. Rabi Sankar today announced the launch of product offerings aimed at transforming the ATM infrastructure in the country. Unveiled in association with the National Payments Corporation of India (NPCI) at the Global Fintech Fest (GFF) 2024, the initiatives include UPI Interoperable Cash Deposit (UPI-ICD) and banks showcasing Digital Banking Units (DBUs).

The introduction of UPI ICD allows customers to deposit cash at ATMs operated by banks and white-label ATM operators (WLAOs) using UPI to their bank account or any other bank account without the need for a physical card. These ATMs are cash recycler machines that are used for both cash deposits and withdrawals. Leveraging their mobile numbers linked to UPI, virtual payment addresses (VPA), and account IFSCs, customers can now make cash deposits, making the process more seamless, inclusive, and accessible. Consumers will be able to access these features as the banks gradually roll them out.

ATMs with open architecture can host bank apps positioning them as DBUs offering cash deposits, withdrawals, and other banking services such as opening bank accounts, applying for credit cards, initiating fixed deposits, applying for safe deposit lockers, etc.

Additionally, today at the GFF 2024, Shri Vivek Deep, Executive Director, RBI announced the rebranding of the Bharat Bill Payment System (BBPS) to Bharat Connect. This is an important step to refresh and strengthen the BBPS brand. Bharat Connect embodies NPCI Bharat BillPay Limited’s (NBBL’s) values and vision for stakeholders and customers, going beyond a bill payment system to create an ecosystem that connects individuals and businesses, through an integrated platform.

The launches took place in the presence of Shri Ajay Kumar Choudhary, Non-Executive Chairman and Independent Director, NPCI.

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According to the report, the yield on the new 10-year benchmark government security (G-sec;7.18% GS 2033) opened October at 7.23% and closed at 7.35%, up 14 bps from its September closing of 7.21% and outside CRISIL’s forecast range of 7.23-7.33%. In the first week, bonds traded largely with a negative bias due to a surge in US Treasury (UST) yields and crude oil prices. In addition, the Reserve Bank of India (RBI) hinted at open market operations (OMO) sales in the future to manage liquidity in the market. This led the yield on the 10-year benchmark G-sec to harden by 14-15 bps. The domestic 10-year benchmark yield closed the week at 7.34%.

The second week started on a negative note, tracking a surge in crude oil prices amid geopolitical tensions in the Middle East and due to likely OMO sales. India’s retail inflation printed at a three-month low of 5.02% in September on the back of softer vegetable prices. However, as the week progressed, the bond market witnessed a softening in yields due to a decline in UST yields. The 10-year benchmark yield slipped and closed the week at 7.32%.

The report also includes information on CRISIL’s data and analytics platforms, including Alphatrax and Quantix, which enable clients to assess industry and company-level risks based on CRISIL’s proprietary models. CRISIL ESG Scores help benchmark companies based on their inherent ESG risk using public domain information and a proprietary framework. The company reports, which combine select financial and non-financial data, analytics from CRISIL’s proprietary risk models, and commentary on a company’s financial performance, are used by commercial banks, financial institutions, and non-banking finance companies as part of their credit/risk management process. CRISIL’s SME Gradings, used by lenders, assess the creditworthiness of SME enterprises relative to their peers leveraging CRISIL’s proprietary grading model.

Insights from CRISIL Market Intelligence and Analytics November 15, 2023.

The report also includes a privacy statement and analyst disclosure, as well as company disclosure information. CRISIL Research does not provide investment banking or merchant banking or brokerage or market-making services. The company encourages independence in research report preparation and strives to minimize conflict in the preparation of research reports through a strong governance architecture comprising of policies, procedures, and disclosures. CRISIL Research prohibits its analysts, persons reporting to analysts, and their relatives from having any financial interest in the securities or derivatives of companies that the analysts cover. CRISIL Research or its associates collectively may own 1% or more of the equity securities of the Company mentioned in the report as of the last day of the month preceding the publication of the research report. CRISIL Research or its associates may have a financial interest in the form of holdings in the subject company mentioned in this report.

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The fifth straight increase in repo rate and focus on the withdrawal of accommodation by the Central bank to control hovering inflationary concerns and macroeconomic scenarios were expected. However, going forward, the rate hikes would start impacting the growth of the domestic economy. The central bank must maintain the neutral or positive zone of the repo rate while focusing inflation control within a tolerated threshold. As the country is on a bright spot in the global economy, currently, it’s an opportunity for India to grow and consolidate gains. As India wants to make MSMEs self-reliant, higher interest rates will increase the cost of borrowing for MSMEs. It could lead a slowdown in investment and expansion plans and impact profitability for the sector. MSMEs are already battling inflation headwinds, lower demand, and loan interests. As MSMEs require certainty of funds, we believe they would be at the edge to absorb this surge in the repo rate.

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