We believe the banks needs to be proactive on passing on the benefits to the consumers: Ashish Raheja

Mumbai, June 7, 2016: "The RBI Governor in the second bi-monthly monetary policy kept the interest rates unchanged. The sector was hoping for a cut in the policy rates which in turn would have given impetus to the demand for the real estate sector. However, we believe he has given importance to the economy where inflation is seen with an upward bias and tried to address the same. The rate cuts undertaken by the central bank in its previous policy reviews still leaves some space for the banks to pass on the benefits to the consumers. Hence, we believe the banks needs to be proactive on passing on the benefits to the consumers", says Mr Ashish Raheja, managing director, Raheja Universal Pvt Ltd.