RBI Policy Disappoints Real Estate Sector

RBI’s move to cut banks’ Cash Reserve Ratio by 25 basis points (bps), while keeping the key rates unchanged has received mixed reaction from the industry. While developers feel that the apex banker’s move would only fill the banks’ coffers, industry sources believe that banks, in return, will pass on the benefit to the customers by cutting interest rates, which will benefit the sagging construction industry in India.

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