Benefits Need To Be Passed Down To End-Consumers
Ram Raheja, Director at S Raheja Realty
“ The announcement of 40 basis points to 4 per cent is a move directed towards the revival of the economy. The RBI should ensure that the benefits of the same is passed down to the end-consumers by the banks. This step will incentivise the banks to lend more, which inturn will give a boost to the currently flattened demand and infuse liquidity in the ecosystem.
Also, the extended moratorium until August 2020 will give relieve the homebuyers going through trying times due to the pandemic. The real estate sector now positively look forward to the details of the promising announcement made by the governor with regards to conversion of the moratorium into a term loan.
Real estate as a sector is a major contributor towards the GDP and enabling measures to ease the complexities faced by the RBI will empower the Indian economy at large.”