Quote by Mr. V.P. Nandakumar, MD & CEO, Manappuram Finance Ltd. on Repo Rate by RBI

Comments by Mr. V.P. Nandakumar, MD & CEO, Manappuram Finance Ltd. on RBI Rate Cut

Today’s rate cut is on expected lines, although we did hope for something like 50 bps. Now, the onus is on the banks to begin passing on the benefits of the lower rates to their borrowers. We feel that the earlier cuts have not so far been fully reflected in borrowing costs and we hope that things will now begin to change.