Reaction from Bijay Agarwal, Managing Director, Salarpuria Sattva group on Repo rate cut

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New Delhi, August 10, 2019: “This move by RBI to cut interest rate by 35 bps will be more comforting for the market than just a rate cut. When the banks are constrained with their cost of borrowing, they will be able to lower their respective marginal cost of funds based lending rate (MCLR), which directly impacts loans. In real estate, reduction in the cost of funds means the same can be passed on to customers directly. This will encourage customers to buy properties due to reduced interest on home loans, hence increasing the purchasing power of the common man.”

Corporate Comm India (CCI Newswire)