Reach us: 7304553123 / mktg@projectstoday.com
Featured Articles
Featured Articles   -   Project Experts Speak
Saturday, 28 Mar 2020
Share this on :

Satish Magar, President, CREDAI National, post RBI’s reduction in reverse repo rate

 
Satish Magar
 
‘‘Reduction in repo rate, additional liquidity of about Rs 3.74 lakh crore induced reduction in CRR, Long Term Repo Operations and enhancement of Marginal Standing Facility and the moratorium of three months on payment of installments in respect of all term loans outstanding as on 1 March 2020  are all timely and well-intentioned measures by RBI to address the financial stress owing to COVID-19.  We sincerely hope for their quick implementation by the Banks and NBFCs.
 
Together with Government’s Garib Kalyan announcements made yesterday, they are aimed at withstanding the financial and economic consequences of COVID-19 tragedy. CREDAI heartily welcomes these announcements and wishes that on the strength of these measures, India comes out of the COVID-19 shock quickly enough without further sacrifice.
 
We do hope the moratorium of three months on term loans announced by Governor, RBI covers both interest and principal amount. In addition, RBI may consider providing additional capital for business continuity and payment of wages to real estate until return of normalcy.’’

 

 
Post Your Comments
Submit Reset   
New Password
Confirm Password