Real estate regulators are writing to the RBI, seeking one-time debt restructuring for the industry to help developers overcome the liquidity issues, Uttar Pradesh RERA Chairman Rajive Kumar recently said. Industry bodies CREDAI and Naredco have been demanding onetime restructuring of developers ... Read more...
Housing Development Finance Corp Ltd (HDFC) chairman Deepak Parekh has called for a onetime restructuring of real estate loans to help developers find last mile funding for their projects. In a letter to shareholders in the mortgage financier's annual report for fiscal 2019-20, Parekh called for eas... Read more...
Reserve Bank of India has announced government’s approval of the scheme to improve the liquidity position of NBFCs/HFCs through a Special Purpose Vehicle (SPV) to avoid any potential systemic risks to the financial sector. To be eligible under the scheme, RBI laid out the conditions: a) The N... Read more...
The government took an important decision last week to bring the country’s co-operative banks under the supervision of the Reserve Bank of India (RBI). It is a welcome, though belated, step. The ordinance brought 1,482 urban co-operative banks and 58 multi-state co-operative banks under the scruti... Read more...
While, the central board of the Reserve Bank of (RBI) in its recently held 583rd meeting discussed the current economic situation, evolving challenges posed by the Covid 19 pandemic and the central bank's activities during the July 2019 to June 2020 financial year, it has remained silent on whethe... Read more...
The government has said that all urban cooperative banks and multi-state cooperative banks will come under the supervision of the Reserve Bank of India (RBI), a development aimed at providing comfort to depositors and prevent repeat of Punjab and Maharashtra Co-operative (PMC) Bank-like scams. Th... Read more...
Jun 2020 ,
by Realty Plus in News/Views
The Reserve Bank of India is proposing to carve out differential guidelines for residential mortgage-backed securities and set the stage for their listing. That’s according to a new draft framework for ‘Securitisation of Standard Assets. The key changes in the draft include a revised definiti... Read more...
Jun 2020 ,
by Realty Plus in News/Views
In the current crisis, due to salary cuts and large-scale retrenchment across businesses, banks want to ensure that homebuyers can service their loans in future. Flat buyers whose loans were sanctioned by banks have been asked to resubmit their new salary slips, before fresh disbursement to prove th... Read more...
Jun 2020 ,
by Realty Plus in Latest News
In the current pandemic situation, banks globally are hesitant to transmitting money to businesses considering it a risky proposition. The central bank to ensure adequate liquidity in the system has reduced the reverse repo rate - the rate at which banks park their fund with the central bank - by 25... Read more...
The country's economy, which is likely to contract by 5 percent in the current fiscal, may expand by around 5 percent in the next financial year according to Former RBI Governor Duvvuri Subbarao. "I do believe that getting up to 5 percent next year (FY22) is quite probable. The reason I say that ... Read more...