MUMBAI, 22 MAY, 2020 (GPN): Mr.  Virendra Somwanshi, MD & CEO, Motilal Oswal Private Wealth Management shares his perspective on today’s RBI announcement: “It was a good effort policy by RBI though extension of moratorium is a short term measure and not really long term. Rate cuts and reverse repo rate cut are moves in the right direction but risk aversion by banks is still high. Even though one time loan restructuring  would have led to credit rating issues, it would have been a step in the right direction which the market was expecting. Good for companies but banks/NBFCs will be hit in short term particularly when they are staring at higher NPAs. The benchmark yield has fallen by 10 bps and there is enough liquidity in the system.I would expect a more definite no on the GDP growth, announce measures to improve smooth transmission of liquidity through a OMO calendar and more sector specific measures”. ENDS