Quote by Mr. Ratul Puri, Chairman, Hindustan Powerprojects on RBI Credit Policy

Quote by Mr. Ratul Puri, Chairman, Hindustan Powerprojects on RBI Credit Policy:

“RBI’s move to cut repo rate by 50 bps to 6.74 per cent implies opportunities for increased investments in the private sector and a game-changer for the economy. This would provide a fillip to growth in the sector by addressing concerns around continuing domestic capacity under-utilisation. We are hopeful that the transmission of these cuts would eventually boost investor confidence and meet the demand supply gap in the market. This is a welcome move for the power sector and our company since we recently signed an agreement with IIFCL for issuance of secured and redeemable non-convertible debentures under IIFCL’s ‘Regular Credit Enhancement Scheme’. We are hoping that with the rate cut, the corporate bond yields are likely to soften down.”