RBI has taken a neutral stand by maintaining the repo rate at 6.25%: Sanjay Jain

Reaction to the RBI policy announcement, Mr.Sanjay Jain, Group Managing Director, Siddha Group said, " The Reserve Bank of India has taken a neutral stand by maintaining the repo rate at 6.25% in the first monetary policy of the financial year 2017-18. We hope the banks now reduce the interest rates that will ensure that the demand for housing does not weaken. The hike in the Reverse Repo Rate to 6% is a positive move for both the banks and real estate developers as it encourages the banks to invest in REITs. We are supportive of the status quo announcement on RR, and hope for a stable Real Estate market."