Banks
Banks have started insisting on investigative audits for engineering, procurement and construction (EPC) units who are looking to recast their loans. A forensic team will evaluate such companies and reduce the chances of any ‘package failure’ in corporate debt restructuring (CDR). The bankers will look in a detailed manner in case of all the related [...] Continue Reading »
Banks must effect any change in floating rate loans only at the agreed-upon reset date, RBI suggested. This aims at ushering in transparent and appropriate pricing of credit, according to an RBI working group. It was suggested by the group that floating rate loan agreements can have interest rates reset monthly, quarterly, half-yearly, etc. This [...] Continue Reading »
Recently RBI extended the deadline for the National Housing Bank (NHB) to raise funds through the external commercial borrowing (ECB) route, by six months. The central bank had allowed NHB and housing finance companies to collect funds up to$1 billion through this route to finance affordable housing loans up to Rs 25 lakh. Mr. RV [...] Continue Reading »
Housing finance was viewed by banks as one of the safest avenues for lending. Banks that had got into the act early on, in competition with the specialised housing finance companies that started the business, were handsomely rewarded with a very positive risk-reward profile for several years. As the sector expanded, though, many of these [...] Continue Reading »
In north Bangalore, interest in real estate peaked with the setting up of the international airport in 2008. The as yet mainly unfamiliar region boasted sizeable tracts of land at considerably lower prices, which helped in the growth of commercial space in this region. Connectivity by the Outer Ring Road (ORR), the Hebbal flyover and [...] Continue Reading »
Fresh loans worth Rs 1,375 crore have been granted to 18,510 beneficiaries during the third quarter September-December last year as a decrease of 55% from the same period in 2012. A record shortfall in demand for home loans last year has been led by the slowdown in real estate and overall economic slump. The fall [...] Continue Reading »
According to the report, the Indian construction and real estate sector continues to be a favored destination for global investors and businesses. As per the tax and advisory firm, Grant Thornton, the large numbers of people are shifting towards the cities and the interest shown by the buyers to invest in the real estate market will [...] Continue Reading »
The four-laning of 105-km stretch of National Highway-73 from Yamunanagar to Panchkula has been approved by The State Wildlife Board (SWLB). The NH-73 of 19.21-km, falls in the Khol Ki Ratan Wildlife Sanctuary and within the eco-sensitive zone (ECZ) of the sanctuary. As one of the two toll plazas falls in the ECZ of the [...] Continue Reading »
Both public and private, twenty five lenders, have secured an option to gain control over the sick infrastructure firm Lanco Infra, following one of the largest corporate debt restructuring (CDR) ,by conversion of 3,024 crore of loans into equity which involves 11,155 crore. In a communication, seeking the approval of shareholders for the issue of shares [...] Continue Reading »
Banks and financial institutions are threatening the developers to auction their properties worth thousands of crores in case of failure of loan repayment. In one of the latest cases, over two dozen nationalized banks, led by United Bank of India (UBI), are auctioning the properties of barely Rs. 31 crore worth while trying to recover [...] Continue Reading »
