A Welcome Move For The Indian Economy
Lincoln Bennet Rodrigues, Founder and Chairman, Bennet & Bernard Group
Today’s rate cuts along with the further extension of loan moratoriums by 3 months is definitely a welcome move and will benefit the real estate sector in the near future. It will enable banks to lend even more and push many fence-sitters onto the market as home loan interest rates are expected to fall down. The government has recently announced a slew of measures aimed at further easing the liquidity conditions and providing relief to borrowers and another extension of the moratorium will help borrowers struggling with liquidity problem. What needs to be seen is how quickly the banks pass on the benefits to the borrowers. All these steps augers well to cushion the impact of COVID-19 on the Indian economy.