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Below is the Views On Perspective on RBI announcement by Mr. Ashok Mohanani, Chairman, EKTA World & VP NAREDCO, Maharashtra

“Today’s announcement focused more on bank relief and commercial real estate, there was no mention of residential real estate. Certain announcements by RBI Governor on the liquidity front will benefit in churning the economic cycle. A rate cut of 25 basis points to 3.75 percent from 4 percent is in favor in terms of RBI from banks. There is indeed a requirement of more clarity and focused announcements towards credit growth.  The flexibility provided to NBFC  on the DCCO by extension of one year is expected to provide relief to the borrowers in short-run for NBFC and the real estate sector. There is a need for focus on residential real estate and hope for some relief measure to be announced.”

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