Overall it is a very good policy from the Reserve Bank of India (RBI), said SS Mallikarjuna Rao, MD and CEO of Punjab National Bank (PNB) in an interview to CNBC-TV18.

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Even while maintaining the rates with accommodative stance they have done a wonderful job in coming out with measures, he added.

The opportunity given by RBI for on-tap TLTRO will go long way because it is an opportunity for future when the lending takes place once the economy revives back.

The measures on open market operations (OMOs), loan-to-value (LTV) as well are good.

Measures announced by RBI will create positive sentiment in the market ahead of festive season, he mentioned.

Co-lending will result in lowering of interest rate by housing finance companies (HFCs) to customers, Rao said.

First Published:Oct 9, 2020 2:48 PM IST