RBI repo rate cut is just not enough: CREDAI
Welcoming the Reserve Bank of India’s decision to cut Repo Rate and CRR by 25 bps, developers’ apex body CREDAI has called for a special thrust on realty sector.
“Though RBI has made a good beginning, the repo rate cut by 25 basis points is just not enough. What we need is creation of a robust supply to curb inflation for which RBI needs to continue to ease fund supply position, month-on-month and quarter-on-quarter for realty sector,” CREDAI National President Lalit Kumar Jain said.
The developer community expects key initiatives and boosters like giving infrastructure status housing and reducing the risk weightage to 1 from 1.25, he said, adding that RBI should increase lending limit to 90 per cent for home loans.
“We need a dynamic approach now onwards though and small steps like RR and CRR cuts will help improve market sentiments,” Jain added.