04.05.2011 - India: RBI move ‘harsh', says CREDAI
The Confederation of Real Estate Developers' Association of India (CREDAI) has termed the 50 bps hike in repo and reverse repo rates as ‘harsh.' Pradeep Jain, Chairman, said it would intensify the cash crunch scenario which the industry was facing right now. Along with this the RBI's increase of the saving bank deposit interest rate to 4 per cent would also add pressure on the cost of funds for banks..............................................Full Article: Source
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