Perspective by Poddar Housing and Development on today’s RBI announcement

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“”At the headline level, the liquidity support specific to NBFC is a welcome news. Reducing the reverse repo rate to 3.75% from 4% and Rs 50,000 crore booster package showcases RBI’s clear objective to safeguard the economics and strengthen the finance of the Indian society at large. NBFCs and HFCs, primary lenders to the real estate developers, will be the biggest beneficiaries. NBFCs now allowed to extend realty loans by 1 year, subject to project delay of unavoidable circumstances, should play up a positive sentimental value in the realty sector. 

We expect more series of fresh measures to come from RBI to accentuate the credit growth in the country in the uncertain times of the pandemic.”

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