Mr. Dhiraj Relli, MD &CEO, HDFC Securities views on the announcement by RBI Governor
"The RBI Governor's announcement did not include blanket moratorium and hence some of these fears did not come out to be true and Banking stocks did not sell-off. Small businesses and MSME borrowers have been given a chance to extend their payment schedules. Rs.50000 cr term liquidity for healthcare sector is welcome but unlikely to benefit many listed players. Overall the street may be disappointed with the financial impact of the announcement but given the scale of the pandemic, we can expect more such announcements going forward. Overall a welcome proactive move by the RBI, though yeh dil mange more..."
Shekhar Bhandari, President - Global Transaction Banking, Kotak Mahindra Bank view on RBI's announcement
"RBI's measures announced towards rationalisation of KYC norms, especially extending scope of V-CIP, will enable banks to step up customer on boarding, as also enhance customer experience. Credit to MSMEs will increase given the relaxation announced for NDTL. Allowing PSL classification for credit to entities such as vaccine manufactures, and their importers, priority medical devices manufacturers, hospitals etc. is a fantastic step toward enabling the nation to fight the covid-19 pandemic."
Mr. Anshuman Magazine, Chairman & CEO, India, South-East Asia, Middle East & Africa, CBRE
"With today's announcement, RBI focused on the revival of the Indian economy by adding adequate liquidity that ensures further stability of the overall market in the current scenario. The COVID loan scheme will boost economic activity and aid the growth of the MSME's sector as well.
The announcement of restructuring of loans for small borrowers is a proactive move as it will provide some relief against asset downgrade and also provide relief to lenders. Liquidity support to the healthcare sector is also a commendable step. These decisions by the central bank to tackle the current situation are much appreciated and well-timed to ensure stability and economic revival."