New Delhi: The Reserve Bank of India monetary policy committee meeting has announced big relief for the real estate sector as it has announced that the delay in delivery with proper reason won’t lead to the downgrading of the real estate loans. Apart from that, Governor Shaktikanta Das said that the Repo Rate will remain unchanged at 5.15 per cent. The RBI MPC Meeting came out with a consensus that the Repo Rate should be left unchanged maintaining the accommodative stance of India’s apex bank.
In a written press statement issued by the RBI it was informed that on the basis of an assessment of the current and evolving macroeconomic situation, the RBI MPC meeting on February 6, 2020 took its policy decision in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 per cent within a band of +/- 2 per cent, while supporting growth. It also made it clear that for the real estate sector, if the project gets delayed with a valid reason then the lending institutions won’t downgrade the real estate loans, which is a huge relief for the real estate sector.
