New Delhi, March 25, 2020: “The RBI’s much – needed liquidity infusion of Rs 3.74 Lakh crore into the economy comes as a big relief for the country, its markets and the people who are battling a COVID – 19 war in already prevailing recessionary conditions. The repo, reverse repo rate and CRR cuts would extend more lending powers to the banks. It’s an attempt to ensure financial stability and confidence that the financial markets needed. A moratorium of three months on repayment of loans and interest thereon, with a further assurance of not classifying such assets for downgrading, will give relief to the homebuyers and businesses. It will ease them from financial burdens and help them plan financial priorities better in this challenging time. The RBI has also assured that the banking system was sound and there was no need to be panicky about it. But, all this has highlighted a fact that the real estate is a safe asset – class, as it is a physical one. This is evident when cash flows and liquidity have impacted all other asset classes severely.”
Corporate Comm India (CCI Newswire)
