PM SIGNALS RATE CUT POST-DEMONETISATION
PM SIGNALS RATE CUT POST - DEMONETIZATION “Over 5 lakh crore deposited with banks are not going to be kept idle. Banks will have to extend loans for all sorts of economic enterprise - for which they will have to bring down their interest rates.” - Hon'ble Prime Minister Shri Narendra Modi EXPERT SPEAK ON DEMONETIZATION: “All rates will fall. The bank has seen huge inflow of deposits but demand for credit has slowed down.” – Arundhati Bhattacharya, Chairperson, SBI. “We expect banks to reduce deposit rates by ~1.25% over the next six months.” – Rana Kapoor, CEO & MD, Yes Bank. “Demonetization good for growth. Impact on property market exaggerated. I don’t see any possibility of prices coming down much.” - Adi Godrej, Chairman, Godrej Group. “Also with higher tax to GDP ratio, the government may also get enough headroom to reduce the income tax rates” – HDFC Bank Investment Advisory Group. MORE CASH IN HAND = LOWER INTEREST RATES TO INCREASE LOANS When