Navin Makhija, MD, The Wadhwa Group on fifth RBI Policy announcement

"Maintaining status quo on the repo rate in RBI's bi-monthly monetary policy is an unexpected move made by the new RBI Governor, Dr. Urjit Patel. We were anticipating a rate cut of at least 25 bases points with changes like demonetisation being introduced by the government. Nevertheless, the banks should now reduce the interest rates that will ensure that the demand for housing does not weaken. The accommodative approach will assure that the steps taken up by the government are in the right direction and propel the growth of the real estate sector." - Mr. Navin Makhija, MD, The Wadhwa Group