'Additional incentives required to boost economy'
Rohit Poddar, MD, Poddar Housing and Development, says, "This is a welcome move by the RBI as growth has totally stagnated and in fact, there is deflation in several sectors. The RBI has cut the rate on the backdrop of evolving growth-inflation dynamics with the objective to fill the output growth gaps. Raising bank’s exposure limit to single NBFC is a prudent structural development. Bank’s lending to registered NBFCs for housing up to Rs 20 lakh per borrower is a positive news for the real estate sector. Transmission of the rate cuts to borrowers is important as wielding scissors on repo rate alone won’t be enough. Additional interventions will also be required to try and provide a boost to the economy."