8, Jun 2023
Reaction on RBI Policy from Andromeda and Square Yards

Mr. V Swaminathan, executive chairman, Andromeda sales and Apnapaisa.com

The RBI’s decision to maintain the policy rates unchanged is positive news for borrowers, especially considering the global apprehensions that persist in advanced economies. However, the Reserve Bank of India remains focused on preserving price and financial stability while ensuring adequate flow of financial resources to all productive sectors of the economy.

It is encouraging to note that domestic macroeconomic fundamentals are strengthening, with resilient economic activities, moderated inflation, comfortable current account deficit, and robust credit growth.

If the situation persists or improves further, we can anticipate a potential rate cut in the next monetary policy review.

Piyush Bothra, Co-founder and CFO, Square Yards

The Reserve Bank of India’s decision to maintain the status quo for the second time is a welcome move and in line with the expectations. This affirms the view that interest rates will only have one direction which is downwards. This is a big positive for the home buyer as they know that their EMIs down the line will only decrease further. A lot of fence sitters are expected to jump in, and the developers are likely to cash in on this pent-up demand. We firmly believe that we are at the beginning of a multi-year real estate bull market buoyed by high disposable incomes, high affordability and moderate-to-low interest rates.

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