Comment of Mr. Avneesh Sood, Director Eros Group on RBI announcement to cut interest rates by 75 basis points

New Delhi, March 25, 2020: Given the ongoing crisis in the wake of the coronavirus pandemic, with both the consumption and investment engines wavering, RBI Repo rate cut by 75 basis point is an encouraging move to stimulate the economy. Additional money available in banks at a lower cost will result in more purchasing power as there will be a lower EMI burden on the buyers. It will also reduce the liquidity crunch and lower the cost of finance for the developers. We hope that banks pass on the benefit to homebuyers and also expect this initiative to increase credit growth and recover the inactive nature of the economy and make it more convenient for homebuyers to purchase their dream home once the Covid 19 crisis gets over.

Corporate Comm India (CCI Newswire)