Reserve Bank of India (RBI)
Despite concerns being raised by the banking regulator over varied instalment schemes offered for real estate buyers, developers continue to woo consumers with more such offers to boost sales during the festival season. In September last year, the Reserve Bank of India (RBI) had expressed its displeasure on home loan products that offered under the [...] Continue Reading »
Indian companies can access funds from abroad through External Commercial Borrowings (ECB) of different kinds. In general, ECB pertains to commercial loans in the form of bank loans, buyers’ credit, suppliers’ credit, securitized instruments (like floating rate notes and fixed rate bonds, non-convertible, optionally convertible or partially convertible preference shares) obtained from non-resident lenders with [...] Continue Reading »
Delhi-NCR- The state-run insurance giant which promotes its venture of LIC Housing Finance Limited is expecting to generate about Rs. 700-1,000 crore via external commercial borrowings (ECB). Various realty developers and housing finance firms were permitted to generate about $1 billion via ECBs by the Reserve Bank of India (RBI) last month to promote the affordable housing projects. According to [...] Continue Reading »
Delhi- The government has strictly warned all taxpayers to disclose their true income and those who fails would be receiving notices from the Income Tax Department. Since the tax collected was very less in April-November, it asked taxpayers to file correct returns by December 15, when the third instalment of advance tax is due. The [...] Continue Reading »
The Reserve Bank of India (RBI) has denied the request of banks to allow them to restructure real estate loans without providing for likely losses if the loans go bad. A loan is said to be restructured when the original terms of the agreement (interest rates, tenure) are diluted in order to support troubled borrowers [...] Continue Reading »
After the Reserve Bank of India’s decision to hold the rates, real estate developers say that although they welcome the reduction in cash reserve ratio (CRR), they are disappointed with the fact lending rates have remained the same. In the policy announcement, RBI cut banks’ Cash Reserve Ratio (CRR) by 25 basis points (bps), while [...] Continue Reading »
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 [...] Continue Reading »
The government is all set to bring in a package to boost real estate activity by easing lending and provisioning norms for banks. The finance ministry is set to work out a strategy to boost the sector as developers expressed their inability to cut prices to increase demand. The ministry has been in talks with [...] Continue Reading »
CREDAI, the apex body of realtors, welcomed the RBI’s decision to cut cash reserve ratio (CRR) by 0.25 per cent. However, they also felt that reduction in repo rate was needed to boost the real estate sector. The Indian real estate industry has expressed hope that a part of Rs 17,000-crore worth liquidity infused by [...] Continue Reading »
Reserve Bank of India has announced a cut in the cash reserve ratio (CRR) by a quarter of a percentage point (25 basis points) to 4.5% in its policy review meeting. With the announcement, home and auto loans will gradually become cheaper over the next few months. However, the RBI disappointed industry by leaving repo [...] Continue Reading »
