Mr. Vikas Jain, CEO of Labdhi Lifestyle on Cut-off in RBI's Repo Rate announced today:
"We welcome this decision taken by RBI since it was the need of the hour to bring some relief to the people who are facing uncertainty due to the Covid-19 pandemic. This will lower the stress on the economy. The EMI moratorium will relieve the mental burden on the middle-class consumer as the end of the month is nearing soon. It would be important to note the boost to the sentiments of a common Indian and also signals are very strong that the government is not leaving any stone unturned to fight this epidemic on the financial front. Reducing the repo rate to 4.4 and CRR reduction by 1% will result in increased cash flow. Reduced home loan interest will help the realty sector though we do not see any movement happening in the near future. We thank the Government of India for taking such timely measures to support the economy in such trying times."
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