 "Deepak Parekh, HDFC")
In a bid to fight the adverse fallout of the coronavirus disease (Covid-19) lockdown, the Reserve Bank of India (RBI) should start buying corporate bonds to provide the much-needed liquidity support to corporations, said Housing Development Finance Corporation (HDFC) chairman Deepak Parekh.
According to him, interest rates will go down further, but banks must pass them on to companies. RBI lends only to banks in India and banks are concerned more about their own balance sheet rather than national interest, he said.
RBI must start buying company bonds, Parekh had said in an interaction with members of the Young Entrepreneurs
