The RBI mandated overseeing committee has approved the Scheme for Sustainable Structuring of Stressed Assets (S4A) for Hindustan Construction Company Ltd. The ICICI-led Joint Lenders’ Forum had proposed the scheme for the infrastructure major, the company said in a statement on Sunday. HCC said it became the first company to
Tag: RBI
Average housing prices surges 7.3% in June quarter: RBI
The Reserve Bank of India released the quarterly House Price Index (HPI) for Q1:2016-17 for All-India and 10 major cities (viz., Mumbai, Delhi, Chennai, Kolkata, Bengaluru, Lucknow, Ahmedabad, Jaipur, Kanpur and Kochi). All-India HPI1 (base 2010-11=100) has sequentially increased by 5.5% to 231.1 in Q1:2016-17 from 219.1 in Q4:2015-16. All cities
Buy property abroad in name of all remitters: RBI
By Accommodation Times News Service Despite a current account deficit, Indians have been allowed to send money abroad since 2004 under the Liberalized Remittance Scheme. Those looking to buy property in overseas destinations like Dubai will have less headroom to consolidate remittances from family members. The RBI has said that a property
Wealth Management In India: Regulatory Issues
By Accommodation Times News Service By Avikshit Moral, Partner, Juris Corp, (Advocates and Solicitors) Summary of the Article This article discusses some of the regulatory issues in the wealth management industry in India such as regulatory overlap amongst the regulators, tax and exchange control laws and personal laws of the individual. India has
Realty industry welcomes RBI’s decision of reducing the repo rates by 25 bps
By Accommodation Times News Services Reserve Bank of India (RBI) issued its first quarter monetary policy for the financial year 2016-17, with a positive start for current year, RBI Governor Raghuram Rajan announced the policy with a rate cut of 25 basis points from 6.75 per cent to 6.5 per cent. On
Govt to ask RBI for more funds for stuck road projects
By Accommodation Times News Service Banks are currently allowed to fund cost overruns up to 10% of the original total project cost. The government is likely to ask the Reserve Bank to provide more funds for road projects that are facing cost overruns due to delays, a move aimed at reviving languishing
Housing Finance interest rates may fall up to 7%
By Accommodation Times News Services Housing finance companies and banks are all again in the market to capture home loan portfolio. Though statutory requirement makes them lend in priority sector, many banks refuted because of its tire some procedure and heavy overhead cost to complete transaction. But real estate being safest
RBI Master Direction – Direct Investment by Residents in Joint Venture (JV) / Wholly Owned Subsidiary (WOS) Abroad
By Accommodation Times News Services RBI/FED/2015-16/10 FED Master Direction No. 15/2015-16 January 1, 2016 To, All Authorised Dealer Category – I banks and Authorised banks Madam / Dear Sir, Master Direction – Direct Investment by Residents in Joint Venture (JV) / Wholly Owned Subsidiary (WOS) Abroad Direct investments by residents in Joint Venture (JV) and Wholly Owned Subsidiary (WOS)
RBI Master Direction – Establishment of Liaison/ Branch/ Project Offices in India by Foreign Entities
By Accommodation Times News Services RBI/FED/2015-16/6 FED Master Direction No.10/2015-16 January 1, 2016 To, All Category – I Authorised Dealer banks and Authorised Banks Madam / Dear Sir, Master Direction - Establishment of Liaison/ Branch/ Project Offices in India by Foreign Entities Establishment of Branch/ Liaison/ Project Offices in India is regulated in terms of Section 6(6) of
Government’s advice on acquiring land by persons residing outside India
By Accommodation Times News Services Government of India has advised State Governments to be extra vigilant in matters of acquisition and transfer of immovable property in India by a person resident outside India and satisfy themselves about the eligibility under FEMA before registering a sale or purchase of immovable property in