Mumbai 7th October, 2016 (GPN) : Just ahead of the festivities of Dashera and Diwali bankers have promised to swiftly pass on the 0.25 per cent rate cut effected by the Reserve Bank to borrowers, a move that would lower home, auto and corporate loans.
“For the busy season of the financial year, a cut in repo rate by 25 basis point is indeed a welcome sign. With MCLR already stabilised, the pass through of this cut is expected to be quite swift,” said Dena Bank CMD Ashwani Kumar who is also chairman of Indian Banks’ Association.
The Reserve Bank has put in place the ‘Scheme for Sustainable Structuring of Stressed Assets’ (S4A) in order to provide an avenue for reworking the financial structure of entities facing genuine difficulties and requiring coordinated deep financial restructuring.One of the positives for the banking sector from the regulatory angle is the relaxation given on the treatment of sustainable debt under ‘Scheme for Sustainable Structuring of Stressed Assets’ (S4A). Though detailed guidelines are awaited, the move is a big positive for the banking sector,” Dena Bank CMD Ashwani Kumar said.
The top developers in town which participated in Great Mumbai Property Exhibition include DB Realty, Kanakia Spaces, Ajmera Realty, Rajesh LifeSpaces, Sai Estate, A & O Realty, Neelkanth Group, Oyster Living, Vijay Suraksha, Piramal Realty, Romell Group, Wadhwa Group, Godrej Properties, Mayfair Housing, and Neelkanth Group among others. Prominent Banks & HFCs like SBI, Axis Bank, ICICI Bank, PNB, Dena Bank, UCO bank, HDFC, PNB Housing Finance, Tata Capital, India Bulls Housing Finance, LIC Housing Finance and many more.