On this 74th Independence Day, economies world over seem to be in the throes of a crisis. Britain has announced that it has slipped into a deep recession. All global economies are set to contract into negative territories.
Despite the reduction in repo rate by 50 basis points, the banks have cut MCLR by up to 10 basis points only benefitting the borrowers marginally. Expectations range from 25 basis points to 50 basis points for the next reduction with a mechanism that ensures that the reduction is passed on to the borrowers.
Year 2018 was a veritable roller-coaster ride for the Indian real estate. Despite signs of recovery across segments, the liquidity crunch – further exacerbated by the NBFC crisis – put all industry stakeholders on tenterhooks.