Comments of Mr. David Walker, Managing Director, SARE Homes on RBI’s Credit Policy

Mr. David Walker, Managing Director of SARE Homes:

“The RBI has kept the key rates unchanged, which gives no support to the interest rate sensitive housing market where demand remains weak. We urge the banks who have only cut rates by approx. 30 basis points to pass on the full benefit of the 75 basis points cut in rates by the RBI.  We welcome The Government announcement regarding recapitalisation of public sector banks will help loan growth.”