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Below the Quote on RBI Monetary Policy Announcement by Mr. Girish Kousgi, MD&CEO PNB Housing Finance

“We welcome RBI’s decision to retain the repo rate at 6.5%, indicating a balanced approach to economic growth and inflation. While the long-awaited normalcy still eludes the global economy, India anticipates an optimistic growth trajectory. The GDP growth projection for FY24 to 7% from the earlier 6.5% will help maintain the ongoing economic momentum.

The emphasis on supporting housing consumption via urban and rural demand augurs well, providing a boost to the real estate segment. The focus on data security through the proposed cloud facility for financial institutions is also laudable, and will help strengthen consumer trust and confidence. Further, the regulatory framework for web aggregation will create a more level playing field for all entities vis-à-vis loan processes, thereby ensuring an unwavering focus on customer centricity.

At PNB Housing Finance, we are optimistic about the growth opportunities in the overall real estate sector, given our heightened focus on retail affordable housing, and will continue to leverage these to cement our leadership in the industry.”

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