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Oct 30, 2012, 02.06 PM IST
RBI announced the change in credit policy on the reduced CRR rate by 0.25 % and the unchanged REPO rates.
RBI announced the change in credit policy on the reduced CRR rate by 0.25 % and the unchanged REPO rates. While the decision of reducing the CRR is a positive step, the industry has been expecting a REPO rate cut for a while now. With regard to this, Mr. Gavurav Mittal, MD, CHD Developers and Member, Governing Council, CREDAI would like to share his point of view on the same.
"RBI has taken a cautious stance by reducing the repo rate by 0.25% but keeping the lending rates unchanged, in lieu of high inflation. We welcome the CRR cut, which we hope will help in generating liquidity. However, the entire industry has been waiting for a cut in the Repo rate which will be positive for the growth of various sectors, including real estate. We hope Reserve Bank will take cognizance if this fact and we will see a rate cut in the next policy which will provide the needed trigger and encouragement to the sector."
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