Post the RBI announcement, here are the views of Mr. Umesh Revankar, MD and CEO,
Shriram Transport Finance.
“Given the current economic scenario, RBI announcement to cut the repo rate by 40 bps is in line with India Inc expectations.
With lockdown reaching its near end and businesses are resuming, we hope banks will now be encouraged to start lending to essential sectors like MSMEs and NBFCs to kickstart the economy.
The reduction in reverse repo rate will discourage banks to park money with RBI.
We appreciate all the efforts taken by the RBI and Finance Ministry to stabilize the economy .”