RBI needs to ease asset quality norms, cut repo rate: HDFC Bank's Puri

RBI doesn't have a choice but to provide some relaxation on the asset classification norms, says Aditya Puri

Aditya Puri, chief executive of the country’s largest private sector lender HDFC Bank, said on Monday the central bank needed to take immediate measures like policy repo rate cut and easing of asset quality norms to cushion shocks in the wake of the spread of coronavirus.

“We need to look at non-traditional rate cut in the repo rate to ensure yields are maintained properly and ensure there is enough liquidity. We have to clearly come out with forbearance across the length and breadth because the cash flow of almost all companies will be affected if we have the lockdown,” Puri