RBI did what is best for economic growth

Pratik K. Mehta, MD, Unishire, said, “RBI has done what is best for country’s economic growth. Any reduction in rates will always be wanted especially for realty sector but what is more important is passing on of the rate cuts to the home buyers. Benefits of past rate cuts have not been completely passed on to the home-buyers yet, if banks decide to pass them, that itself can be a big boost to the sector. Our sector is witnessing a slow down on sales, prices of real estate have bottomed down in key end user driven markets, thus, interest rates play a key role in pushing the fence-sitters to take decision. Even RBI has maintained that transmission of interest rates is critical for growth. We welcome RBI’s move and hope that now banks do their part to help in uplifting the realty market sentiments.”