Comments
The Confederation of Real Estate Developers’ Associations of India (Credai), the apex body for private real estate developers in India, has expressed surprise at the RBI decision to increase the repo rate by 25 basis points in its mid-quarter review of the monetary policy.
The step is only aimed at combating inflation but the focus on the industry growth has been ignored.
C. Sekhar Reddy, President, Credai-National , said: “In these challenging times, the RBI decision to raise the repo rate by 25 bps is tougher than expected and could have been avoided. In the coming months, we hope the bankers will come out with special schemes to attract the home buyers.”
He further added: “RBI should formulate a special policy for the housing industry with a focus on affordable housing. We hope that RBI will take cognizance of the industry requirement and will announce a rate cut, which will provide the needed trigger and encouragement to the sector.”
rishikumar.vundi@thehindu.co.in
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.