In a further blow to the dampened Diwali spirit of the realty sector, the RBI raised interest rates on today but said it was likely to hold off on further increases as it expects high inflation to ease beginning in December.
The Company Law Board (CLB) has issued notices to Unitech and its associates on an arbitration plea filed by its foreign partner Telenor with regard to dispute over the rights issue of Uninor.
The RBI move to raise the repo rate by 50…
The Reserve Bank of India (RBI) has asked banks to go slow on lending to the commercial real estate projects. The central bank fears an asset price bubble.
The Reserve Bank of India has laid out strict and tedious due diligence standards for banks in sanctioning loans to the real estate sector.
Alarmed by inflated valuations of real estate properties for the purpose of loans, the Reserve Bank of India has asked all banks to submit an action-taken report on the issue.
The real estate sector has posed “some concerns” given the large and growing share of these loans in the credit portfolio of banks.
The decision on allowing external commercial borrowings (ECBs) for the real estate sector still hangs fire with the Finance Ministry and the Reserve Bank of India holding opposing views.
ICICI Ventures-backed Delta Corp has acquired 51 per cent stake in Daman Hospitality Pvt Ltd for Rs 50 crore in its second acquisition this year.
The Reserve Bank of India has imposed a monetary penalty of Rupees five lakh on Manipal Co-operative Bank Ltd., Manipal, Karnataka for violating RBI directives by granting loans for real estate purpose exceeding the single party exposure limit of 15 per cent of its capital funds.