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RBI steps to help increase liquidity, reduce panic: Findoc Group

PTI | New Delhi | Updated: 28-03-2020 19:55 IST | Created: 28-03-2020 19:42 IST
RBI steps to help increase liquidity, reduce panic: Findoc Group
"Some private banks were in trouble and making up their CRR through the wholesale market. This has definitely given a boost to the system and has been able to reduce panic," Findoc Group MD Hemant Sood said in a statement. Image Credit: ANI

Financial advisory firm Findoc Group on Saturday said the steps announced by the RBI will help increase liquidity and give stability to bankers. "Some private banks were in trouble and making up their CRR through the wholesale market. This has definitely given a boost to the system and has been able to reduce panic," Findoc Group MD Hemant Sood said in a statement.

He said that the step of increasing liquidity and decreasing the repo rate and CRR will give stability to bankers. "Though there are no loan takers right now existing loans will get benefit and post quarantine, this will definitely favor businesses," Sood said.

He also said that the moratorium on loan EMI, on one hand, has helped people to maintain liquidity but is negative for banking profitability. "Though this will fuel in consumption which is beneficial for the industry post lockdown. The guidance given for the future was also very handy and promising when the governor says that they are open to exploring all conventional and unconventional methods for handling this time of emergency and panic," he said.


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