RBI steps to help increase liquidity, reduce panic: Findoc Group

New Delhi, Mar 28 () Financial advisory firm Findoc Group on Saturday said the steps announced by the RBI will help increasing liquidity and give stability to bankers.

"Some private banks were in trouble and making up their CRR though wholesale market. This has definitely given boost to the system and has been able to reduce panic," Findoc Group MD Hemant Sood said in a statement.

He said that the step of increasing liquidity and decreasing the repo rate and CRR will give stability to bankers.

"Though there are no loan takers right now but existing loans will get benefit and post quarantine, this will definitely favour businesses," Sood said.

He also said that the moratorium on loan EMI on one hand has helped people to maintain liquidity but is negative for banking profitability.

"Though this will fuel in consumption which is beneficial for the industry post lock down. The guidance given for future was also very handy and promising when governor says that they are open to explore all conventional and unconventional methods for handling this time of emergency and panic," he said. RR BALBAL