In a major relief to a construction firm based in Mumbai, the Bombay High Court said the lockdown duration is to be eliminated when calculating 90 days for the Non-performing Assets (NPAs) declaration. The High Court’s ruling came on a Transcon Iconica petition that took a loan from ICICI Bank and failed to make payments […]
Bombay High Court declares calculation of 90days NPA should not include lockdown duration.more
The affordable housing based lending arm of JM Financial Group (JM Financial Home Loans) proposes a five-fold increase in the next fiscal year’s loan book with a co-lending tie-up with the Bank of Baroda. Two years back, as part of diversifying of its developer financing business (JM Financial Credit Solutions, the joint venture with ex-Citi […]
JM financial home loans partnered for co-lending with Bank of Baroda, expects to enter premium home loans.more
In the last three financial years, in accordance with the laws on the recovery of non-performing assets of public sector banks more than 1.7 lakh properties which have a market value of Rs 2.3 lakh crore were taken over or confiscated, the government said Parliament on Monday. In response to the question in Lok Sabha, […]
Last 3 years of NPA recovery resulted in 1.7 lakh seized properties.more
India Ratings and Research said in their reports that the home buyers will be benefited that are awaiting possession of their homes, by the India government’s decision to set up a Rs 25,000 crores fund to provide a priority for debt financing to complete stalled housing projects. The Fund would provide an alternative outlet to net-worth-positive […]
India Ratings suggest the imbalance of Demand-Supply may worsen with the Government’s Rs 25,000 crores fund.more
By Abhay Shah, Realty Quarter A number of housing societies whose funds are held in the PMC bank are confronted with a payment crisis along with the individual small depositors. Several household companies with funds held at the PMC Bank are facing a payment crisis, as well as individual small depositors. Management committees are distressed […]
Housing Societies funds got blocked due to the PMC bank crisis.more
By Abhay Shah, Realty Quarter India’s apex realtors group has been disappointed with the government’s support measures to the industry since it has been unsuccessful on important requirements for house buyers and builders such as tax rebates and reduced interest rates. According to Jaxay Shah, CREDAI’s National Chairman, the Fund established to complete the stalled estate projects […]
CREDAI Chairman showcases the government measures to be a set of a disappointment for the growth of the real estate industry.more
By Abhay Harish Shah, Realty Quarter In March 2019, the system-wide non-performing asset stock decreased significantly to 9.3%, much sooner than the Reserve Bank’s forecast and steeply down from 11.5% the year before, according to a report. The report by Crisil emerges at a moment when most banks are at the cusp of ending the NPA […]
NPAs decline to 9.3% in FY19, deeper than the RBI forecast: Crisil.more
By Abhay Harish Shah , Realty Quarter Injeti Srinivas who is the corporate affairs secretary has said that there is an imminent crisis in the NBFC sector. The Non-Banking Financial Companies (NBFC) has been facing a difficult time from several months is known by everyone. A top-ranking government official has proclaimed that the sector is […]
Indian NBFC Sector crisis declared by Corporate Affairs Secretary – Detailed Report.more