RBI To Boost Liquidity Situation
Ravindra Sudhalkar, CEO at Reliance Home Finance "This is yet another positive step taken by the RBI to boost liquidity situation in the economy, which would also provide reprieve to both buyers and developers of real estate. The measures to extend moratorium period by three months till August 31st will ease the stress on buyers and developers to honour their loan commitments. By allowing the accumulated loans to be converted to term loans, the borrowers will get more time to rework their financial obligations till the cash-flow situation improves. The Repo rate cut by 40 basis points to 4% will encourage banks to increase their lending to HFC s and NBFCs. This will automatically translate into greater liquidity for the real estate sector and greater incentive for buyers to invest in properties."
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