Loan scam to hit realty companies
Bankers would now exercise greater caution before sanctioning loans for project finance. Several bankers and housing finance executives said the guidelines would become more stringent across-the-board, particularly for project financing. Stung by Housing Loan Scam, banks and housing finance companies will seek additional security and add completion guarantee clauses into agreements before sanctioning loans to [...] Continue Reading »
Loan scam to hit realty companies as bankers turn cautious in sanctioning fresh loans. The arrest of eight finance executives by the Central Bureau of Investigation on Wednesday on charges of taking bribes to sanction loans does not lead to a systemic risk but bankers turn cautious in sanctioning fresh loans for new property, forcing [...] Continue Reading »
