Reaction on today’s RBI’s reverse repo rate cut by RBI from Mr. Bijay Agarwal, MD, Salarpuria Sattva Group

New Delhi, April 17, 2020: “Amidst this economic slowdown, revision of reverse repo rate that provides grants to varied economic sectors to maintain the liquidity is indeed a welcome move by RBI and Government. This will enable the banks to lend more. In addition to this, RBI has also announced a liquidity worth ₹50,000 crore under the Targeted Long Term Repo Operation (TLTRO) 2.0, which includes a special grant of Rs 10,000 crore refinancing package to the National Housing Banks (NHBs). This will aid in providing the much-needed liquidity to HFC’s. It will help in managing cash flows for the developers.  We hope this will ease up both the housing and commercial real estate market and boost the economy of the country better.

Furthermore, the RBI has also sanctioned NBFC loans to delayed commercial real estate projects to be extended by a year without restructuring. This is highly appreciated considering the present market scenario.”

Corporate Comm India (CCI Newswire)