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RBI Monetary Policy: Reaction from the industry

RBI Monetary Policy: Reaction from the industry 1

Mr. Rajesh Sharma, Managing Director, Capri Global Capital Ltd

“The announcements made in Reserve Bank’s policy were consistent to the needs of the current situation. The optimism of policymakers about a steady economic recovery would only cushion the market sentiments to move up the growth graph. Today’s announcement would accelerate the market momentum, however, to achieve timely growth, the policymakers may accommodate more monetary-fiscal policy combinations to strengthen the sectors most affected by the Pandemic. Permitting Banks to On-lend through NBFCs focusing on priority sector would give an impetus to scale up their business without worrying about financial destitution. Moreover, the introduction of the Internal Ombudsman Scheme (IOS) for certain categories of NBFCs that have higher customer interface is a much-needed step as it will reduce the hassle for customers in choosing the right ombudsman.”

Mr. Surendra Hiranandani, Chairman and Managing Director, House of Hiranandani

RBI’s decision to continue with the accommodative stance by keeping the interest rates unchanged is a welcome move for the sector. The decision will induce optimism, encourage buyer’s confidence and propel pent up housing demand.
The pandemic has reinstated the importance of homeownership. Low-interest rates amidst the festive season, positive market sentiment and receding Covid-19 cases, together create a favourable condition for home-buying. To benefit from one of the best home-buying periods, homebuyers must immediately translate their plans in to action and avoid prolonging them further.

Mr. Mukesh Kalra , Founder and CEO, ETMONEY

“This is the 8th time RBI has kept the repo rates unchanged. And with inflation numbers well within RBI’s comfort zone, the chances of repo rates going up in the near future remain low. So Fixed Deposits that have been generating net negative interest rates for some time, will continue to do so. Investors in the country can consider Debt Mutual Funds for short term goals and look at Balanced Advantage Funds for their medium duration goals”

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