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Quote on monetary policy from Mr. Ashish Sarin, CEO,Alpha Corp

The quote from Mr. Ashish Sarin, CEO, Alpha Corp  on the monetary policy

Commenting on the monetary policy, Mr. Ashish Sarin, CEO, Alpha Corp said, “The lowering of the benchmark repo rate by 25 basis points to a seven year low from 6.25% to 6% by the Monetary Policy Committee (MPC) of the RBI will be instrumental in stimulating domestic economic recovery process. On the backdrop of weak consumer spending along with lower food prices the inflation remained below the RBI’s mid-term target of 4% therefore a reduction in the repo rate was expected.”
“The banks should now pass on the benefits of this rate cut by lowering the mortgage rates thereby making home loans more affordable for the buyers. Slew of policy reforms undertaken by the government in the recent past have been instrumental in reviving the sentiments of customers in sector and further reduction in the interest rates would be influential in propelling demand for real estate products.” Mr. Sarin added