Bengaluru, February 27, 2016: MR. MANOJ GAUR, PRESIDENT CREDAI NCR AND MD GAURSONS INDIA LTD. SAID, “It was an expected move that RBI will keep the rates unchanged in this bi-monthly policy. Rising inflation is a reason; RBI is holding back the rates and maintained status quo. The upcoming budget is also being considered a reason for RBI to adopt a wait and watch approach. The annual budget will throw light on microeconomic matters which is significant to decide if the there is a scope of rate cut in future. Structural reforms in the budget will give more space to monetary policy for growth by the end of the current financial year. However, we were looking for some more reduction in interest rates as a rate cut would have boosted the demand in housing sector.”
MR. GAURAV GUPTA, GENERAL SECRETARY, CREDAI RAJ NAGAR EXTENSION SAID, “One of the reasons Reserve Bank has kept the rates unchanged is to keep inflation under control. While, RBI has given more than enough rate cuts in the previous year and forthcoming budget is also being eyed to get cues about the economy. Therefore, keeping the rates untouched was a very much predictable move. The current instability in market and reluctance of banks to pass down the rates to borrowers may also be a reason for RBI to leave the rates unchanged. This is a kind of recovery path being followed by the central bank and if things work well we can expect rate cut in the next policy itself.”
Corporate Comm India (CCI Newswire)
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