The Reserve Bank of India (RBI) maintained status quo today on key policy rates at its second bimonthly monetary policy review of FY17.
Please find appended herewith the quote form Mr. Atul Banshal, President – Finance & Accounts, M3M Group and Mr. Rajesh K Gouri, Vice President, Homestead on the review for your consideration. Also, Attached herewith photographs of the spokesperson for your perusal.
“Indian government has been successfully rolling out several initiatives and reforms to pull back the economy on track. With Government’s determination to streamline India’s overall economy, RBI should have complimented these steps by softening interest rates. Market aspirations were also looking forward to such move, which would have surely aggregated positive buyer sentiments especially for real estate and automobile sectors. While Indian economy is showing some encouraging signs, it was the opportune moment to offer moves that would have ascertain steady momentum.” – Mr. Atul Banshal, President – Finance & Accounts, M3M Group
“We welcome the decision for a better prospect as it seems that it want to create a conducive environment for the economic growth and anticipate for a positive outcome. However a reduction in policy rates at this stage would have been highly favorable for real estate industry which is reeling under low-demand pressure since long. Going forward we expect RBI to cut rates in its monetary policy in order to revive the sentiment of the real estate sector” – Mr. Rajesh K Gouri, Vice President, Homestead
