RBI Governor is on an aggressive mood as RBI plan to cut rates and make it cheaper for Banks to raise funds. The central bank plans to improve growth to the maximum potential and its belief that prices of goods were in moderation.
This will in turn help the borrowers for reduced EMI’s on housing loan borrowers with floating rate clause. Thus the borrowing costs will be lower for both house as well as car loans. This is a great boost to the borrowers from Banks. All the eyes were glued on the RBI’s policy review in the coming months. RBI and Urjit Patel are for robust growth and Industry is myopic about the cut in interest rate. RBI rules the roost and Urjit Patel make positive approach in a planned way.
(The views expressed by the author in the article are his/her own.)