Keki Mistry, vice chairman & CEO of HDFC, shared with CNBC-TV18 his take on the steps taken by the government to revive growth amidst the COVID-19 crisis.
Here are the highlight of the interview:
- Expect extension of Credit Linked Subsidy Scheme to be helpful for the housing finance industry.
- 22-24 percent of the company's borrowers have availed for Credit Linked Subsidy Scheme.
- RBI's move of infusing liquidity in the system positive.
- Banks have become extremely risk averse.
- Guarantee provided by the government should definitely help.
- Liquidity should be made available to the lower rated entities.
- AAA-rated stronger NBFCs have had no problem with liquidity.
- Don't think we are looking at a residential housing crisis.
- No reason to believe demand for housing won't come back once lockdown lifts.
- Will take couple of quarters for demand to come back to housing sector.
- Work from home will lead to rise in demand for housing.