Quote on RBI Cuts Repo Rate by 50 bps and CRR by 100 bps by Mr. Ashok Kapur, Chairman, Krishna Group and Krisumi Corporation
Below the Quote on RBI Cuts Repo Rate by 50 bps and CRR by 100 bps by Mr. Ashok Kapur, Chairman, Krishna Group and Krisumi Corporation
The Reserve Bank of India’s decision to cut the repo rate by 50 basis points, along with a 100 basis points reduction in the Cash Reserve Ratio (CRR) to 3 percent, is a strong and timely measure to support the real estate sector and other industries. With today's policy changes, interest rates have now fallen by 100 basis points from last year's level.
We welcome this decision with open arms, as a reduced repo rate translates to lower borrowing costs, while the CRR cut will enhance liquidity in the banking system. Together, these steps will encourage homebuyers to make property investment decisions. Moving forward, this move will have a ripple effect on demand in the coming months across different segments of homes, ultimately contributing to sustained growth and increased confidence in the real estate market.
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