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Friday, 06 Dec 2019
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Rajan Bandelkar, President, NAREDCO Maharashtra and MD, Raunak Group shares views post RBI monetary policy

Rajan Bandelkar

The status - quo maintained by the RBI on the rate cut was much expected. The RBI's stance of taking a pause looking at the growth - inflation dynamics will not move the economy any further. In the past also, the advantage of the rate cut by the RBI was not passed onto the customers by a majority of the banks, which impacted the growth of the real estate sector. In the given situation, the RBI should not just look at the repo rate revision, but instead, take a holistic approach. It must consider an important area like the restructuring of realty loans, as well as, reintroducing of subvention schemes. It must take steps to streamline much-needed financing into the sector. An IPO of a small finance bank raising Rs 76,000 crore in such a volatile market, is an indication that there is no dearth of finance, but there is a serious issue of confidence. The RBI and the Government should work on this issue to bring back life into the system and the real estate sector, too.

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