Quote on RBI Cuts Repo Rate by 50 bps and CRR by 100 bps by Mr. Pradeep Aggarwal, Founder & Chairman, Signature Global (India) Ltd
Below the Quote on RBI Cuts Repo Rate by 50 bps and CRR by 100 bps by Mr. Pradeep Aggarwal, Founder & Chairman, Signature Global (India) Ltd
The twin reduction of the repo rate by 50 basis points to 5.50% and cash reserve ratio by 100 basis points to 3% respectively by the RBI provides significant relief for homebuyers across the country. This bold move by the apex bank comes at a crucial time when inflation is easing, and the economy requires strong stimulus to sustain growth. Lower borrowing costs will make home loans more affordable, thereby encouraging more buyers to enter the market. The reduction in CRR is expected to infuse significant liquidity in the banking system, which will prompt banks to lend even more.
The demand for mid and premium segment homes has already been on the rise following previous rate cuts, and this larger reduction will further accelerate interest from both homebuyers and investors. Additionally, the positive market sentiment around the possibility of further rate cuts this financial year bodes well for the real estate sector, paving the way for sustained growth and renewed confidence in the housing market.
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