By Accommodation Times News Service
During the 3 years tenure of Reserve Bank of India’s Governor, Raghuram Rajan, inflation Came down from 10%-5%, Public banks reveled they gave bad loans worth Rs 4crore, India issued a 40 year bond for the first time ever, Interest rates came down making loans slightly cheaper, Payment banks were approved to make banking easier, new banks were given approvals.
Realties give their opinions on the RBI chief.
Mr. B. S. Nesar, Executive Director, Concorde Group.
“Movements in the political economy are inevitable. It does affect the market and consumer behavior to a great extent. While Raghuram Rajan’s tenure had given foreign investors more confidence to understand the emerging Indian market, now the continuation of his policies would determine the longevity of their trust. As far as real estate is concerned, his move would be beneficiary in moving unsold inventory with a probably lowered interest rate on housing loans.”
Mr.Rajesh Prajapati, Managing Director Prajapati Constructions Ltd
The RBI Governor, Raghuram Rajan has had a great run. His reign proved beneficial in many aspects of the economy. He made an impact in the real estate world with his rate cut that subsequently reduced home loan rates. He also urged us, builders, to lower our prices, stimulating demand and reviving the stagnant real estate market. The Indian economy has thrived under his umbrella of in-depth knowledge, important decision making, judgment, and patience. Indeed he was a noble man with pure intentions and a vision for betterment. We admire his plans of eventually finding his way back to academia. While we will always be reminiscent his fruitful efforts, we are curious to see how a fresh mind will take on the Indian economy. We are grateful to Dr. Rajan for his service to India and wish him the best in his future endeavors.