View from from Mr. Ajay Chaudhary, Chairman and Managing Director, Ace Group on reverse repo rate cut by RBI

New Delhi, April 20, 2020: “We fully appreciate the timely and well thought out measures taken by the apex bank to mitigate the impact of Coronavirus crisis and provide relief to both NBFCs and the real estate sector. Especially when macroeconomic and financial landscape has deteriorated due to liquidity crunch, such a move will help both residential and commercial real estate segments tide over the current depressing market scenario with the availability of surplus liquidity in the banking system in the backdrop of 25 BPS cut in reverse repo rate. Now the onus lies on the banks and the NBFCs to ensure smooth transition of the benefits to the consumers and help them realise their dreams of owning a home by providing home loan on cheaper interest rates.”     

Corporate Comm India (CCI Newswire)