Post the RBI announcement, here are the views of Mr. George Alexander Muthoot, MD, Muthoot Finance.
“We welcome the RBI announcement to cut the repo rate by 40 bps which will infuse liquidity into the system in such challenging times. Also, the reduction in reverse repo rates will discourage banks to park idle money with RBI and lend further.
We appreciate the decision of extending the moratorium by three months thereby providing the much needed relief to the borrowers. It will help in reducing the repayment pressure and provide necessary time to analyze the cash flow status. We believe RBI measures will aid in restoring the financial health of the economy.”