Mr. Nishant Deshmukh, Founder and Managing Director, Sugee Group, on RBI Monetary Policy announcement

Mr. Nishant Deshmukh, Founder and Managing Director, Sugee Group

“The RBI’s decision to maintain an accommodative stance has invoked a sense of optimism. The Repo Rate and Reverse Repo Rate remains unchanged at 4% and 3.35% respectively. This will act as a huge catalyst to infuse sufficient liquidity in the economy. The sector is recovering from the disruptions caused by the Covid-19 pandemic and with this measure, it will bring about a drive in the market and tame the inflation in the system. Lower home loan rates will definitely be a boon to enhance homebuyers’ buying sentiments and encourage fence sitters to purchase their dream homes. This move, along with the government’s ambitious proposal to boost affordable housing, will aid to bring about a strong momentum in the segment and reconcile the economy. We expect the banks to pass on the benefits of these rates to the homebuyers and improve the revival of the real estate sector.”