Mr. Umesh Revankar, MD and CEO, Shriram Transport Finance on Seventh Bi-monthly Monetary Policy Statement, 2019-20.
“The rate cut of 75bps is in line with our expectations and will aid to bring down the cost of borrowing. The CRR cut of 100bps will help in infusing the desired liquidity requirement in the system. The three months moratorium announcement will reduce the repayment pressure on the borrower and give him buffer time to understand his income status and react to his repayment of the loan accordingly.”
He further added, “All in all, it is a very welcoming policy. The government have announced corrective measures to combat with current pandemic situation which would thereby help in bringing financial stability into the system.”