Banks want RBI to relax norms to increase realty credit flow
Representatives of banks have expressed that they want the Reserve Bank of India (RBI) to relax the norms on asset classification in the real estate sector to facilitate credit flow.
The revelation came in the wake of the finance ministry asking banks to increase lending to residential housing projects, so as to revive the cash flow to the real estate sector which has been going through a dim phase.
Meantime, The Confederation of Real Estate Developers’ Associations of India (Credai) representatives had told the finance ministry that many projects could not be completed due to lack of funds. Most of these unfinished projects were in Tier-II and Tier-III cities.
asset classification, Banks, Cash flow, CREDAI, increase credit flow, Indian banks, Real Estate India, Real Estate Sector, Realty News, Reserve Bank of India (RBI), residential housing projects, tier III cities, Tier-II city
[...] Banks want RBI to relax norms to increase realty crdit flow [...]