Interest Rates Might See Another Slashing

Up, India (PressExposure) May 20, 2009 -- The new fiscal package is expected to cast a calming effect on the loan segment of the banking industry that not very long ago was reeling under the severe pressure thrusted on it by the chilly waves of global economic turbulence. Like always, the incorporation or the introduction of the fiscal package can spur demand levels resulting into enhanced domestic spending levels that can actually bail out the home loan segment. Moreover, in case of any further declination in the home loan interest rates, it is quite possible that sinking real estate sector might also get a reprieve. 

Already many of the banks in both private and public sector, have slashed down the interest rates on their home loan products to ensure that they go in tune with the government plan of action to get the country out of the existing financial downturn.

Although, earlier, an infusion of Rs. 20000 crores into the economy didn't fetch the desired results but that was then, now with economy in much stabilised situation, one can now definitely expect a much better consequence in the offing. 

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Press Release Submitted On: May 20, 2009 at 2:18 am
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