The Reserve Bank of India has recently taken a decision about cutting the REPO rate. This is expected to boost credit growth, just before the crucial elections for Lok Sabha in the coming months. Various media publications carried quotes by Piyush Bothra, CFO, Square Yards and Square Capital, the mortgage distribution arm of the group.
He opined,
“From consumers’ point of view, there will hopefully be a reduction on their EMI burden for home and other loans. However, it remains to be seen how quickly and what quantum of reduction is passed on by commercial banks to the consumers.”
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