Banks
It’s high time that Bruhat Bengaluru Mahanagara Palike (BBMP) has to clear all loan interest payments! December 31, 2011 is the final deadline for BBMP to pay Rs 750 crore to various banks. BBMP has around 500 bank accounts in 12 financial institutions! BBMP Commissioner M K Shankarlinge Gowda say that they have lots of [...] Continue Reading »
Banks will now be relieved if the amendments to the Sarfaesi laws is done very soon! Under the proposed amendments in Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (Sarfaesi), banks wil now be allowed to seize the defaulter borrower’s property in any case. They can even buy the asset [...] Continue Reading »
Reacting to recent Supreme Court’s order, Noida Residents Banks’ Association (NRBA) has approached Noida Authority to approve banks at the present area under mixed land use norm. Under this norm, other commercial complexes can be opened in a residential area and the land would be status of commercial-under-residential. This is clause under Noida Master Plan-2031 and authority [...] Continue Reading »
Good news for residential societies in Mumbai who could not set its aim for redevelopment! There are many residential colonies in the major cities which could not go for redevelopment due to low affordability. Now, banks in Mumbai has taken up the charge to finance those projects in the city. It will be a good [...] Continue Reading »
The new Bill introduced in lokh sabha will soon be giving provisions for the banks to accept the immovable properties. Banks and financial institutions in New Delhi at present are not empowered to accept immovable property in concern against the defaulting borrower. The amendments will be made accordance with The Enforcement of Security Interest and [...] Continue Reading »
Supreme Court has passed on orders to all the banks, nursing homes and other commercial offices in residential sectors of Noida to shift out to commercial areas. It has been learnt that these commercial sectors have acquired maximum of 30% of ground floor area in the residential areas in the city. However, Resident Welfare Association [...] Continue Reading »
Bruhat Bangalore Mahanagara Palike (BBMP) has failed badly to pay heavy loan amount and has ended up mortgaging its properties to banks. This furious situation has led BBMP jumping from one debt crisis to another. It is a shocking news that BBMP has not paid salaries to its employees due to this crisis. Plans are [...] Continue Reading »
Life Insurance Corporation of India (LIC), is all set to foray into the real estate market in India. The move is set to tap into the possibilities and opportunities in the growing impetus of the real estate sector. For this the LIC Housing Finance Ltd (LICHF), a the subsidiary of LIC has announced that it [...] Continue Reading »
South Mumbai had to witness severe power cuts recently hampering business in many parts. A number of offices and commercial establishments have to stop their work owing to the power failure. The commercial hub of the city namely- Nariman point and Cuffe Parade were the worst hit areas by this power failure. Some key establishments [...] Continue Reading »
Reserve Bank of India (RBI) said floating rate home loans will be spared penal charges in case of prepayments. Besides the decision on home loans, the action points include measures to protect customer interest in unauthorized ATM transactions, and a policy for compensation to customers for mental harassment. The regulator for housing finance companies like [...] Continue Reading »
