Below is the Views On Today’s RBI Announcement by Mr. Rohit Poddar, Managing Director, Poddar Housing and Development Ltd. and Joint Secretary, NAREDCO Maharashtra
“The economic revival will start with the opening up of the lockdown and a return of the working population to work asap and dealing with the new normal of living with the virus by taking adequate measures. The measures that the RBI is taking to try and boost the economy is positive, however they must insist on transmission of liquidity and the rate cuts to the borrowers from the banks and financial institutions, which is currently not happening as fast as it can be in the context of the pandemic.
Furthermore serious and effective steps are required to be taken to boost the demand side of the economy and spur consumption which we hope will happen soon.”
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