Reactions to RBI monetary policy announcement

Mr.Pradeep Aggarwal, Co – Founder & Chairman, Signature Global
“Implementation of GST has completed its very first month and a great response can be already observed as the buyers’ queries are increasing day by day. This rate cut has come at a time when GST and RERA have entered in to a settled phase and the sector is observing a transition where the buyers are increasing their activity and developers eagerly waiting to satisfy the demand.”

Mr.Govind Sankaranarayanan, Chief Operating Officer, Retail Business and Housing Finance, Tata Capital

“The RBI’s change in stance from a ‘neutral’ to a cautiously ‘accommodative’ one seems to be predicated by an overall healthy monsoon, a decline in the inflation rate & a visible contraction in the manufacturing activity of the country – the first since demonetization. Credit growth has also remained sluggish for a few quarters and the rate cut should aid retail borrowers across auto, white goods and especially the affordable housing sector, which would benefit us as an NBFC. We welcome the stance taken by RBI and given the macro economic climate, we expect a further rate cut in the future.”