NEW DELHI: The Reserve Bank of India (RBI) has levied monetary penalties on three Non-Banking Financial Companies (NBFCs) for failing to comply with its directives for housing finance companies. According to an official statement from the RBI on Friday, it has imposed a penalty of Rs 5 lakh on Godrej Housing Finance Limited, Rs 5 […]
Godrej Housing, HUDCO, and Aadhar Housing Finance face fines from the RBI.more
MUMBAI: On Monday, the Reserve Bank suggested tightening regulations for housing financing organizations by raising the necessity of retaining liquid assets against liabilities and shortening the maturity period for public deposits to five years. According to the RBI’s draft circular, which is open for comments until February 29th, housing finance companies (HFCs) are now permitted […]
The RBI suggests strengthening the requirements for HFCs to take public deposits.more
CHENNAI: Following the RBI’s cancellation of the Housing Finance Company’s certificate of registration (CoR), the public sector Indian Bank would wind up its subsidiary Ind Bank Housing Ltd (HFC). Reporters in Chennai were informed on Thursday by Indian Bank MD & CEO SL Jain that Ind Bank Housing has not operated for the last 20 […]
After the RBI eliminates the CoR, Indian Bank will close down Ind Bank Housing.more
According to those with knowledge of the situation, home loan applicants may be eligible for higher funding if the banking sector regulator approves a bank application to include stamp duty and other registration fees in the project cost. Lenders claimed that following an internal discussion at a meeting held last month, they contacted the Reserve […]
Banks consider including stamp duty and registry fees in mortgages.more
Comments By Real Estate Experts. Mr. Pritam Chivukula, Co-Founder & Director, Tridhaatu Realty and Hon. Secretary, CREDAI MCHI. “We welcome the RBI’s decision to continue with their accommodative stance keeping in mind the economic uncertainty due to the new COVID-19 variant Omicron. The low interest rates have been a crucial factor in the revival of […]
RBI Policy announcement:-Comments By Real Estate Experts.more
The Reserve Bank of India (RBI) has changed the rules for new home loans. Their purpose is to promote real estate sector. The central bank has decided to rationalize the risk weight on home loans with only LTV ratio. These rules will apply to all new housing loans to be held by 31 March 2022. […]
Home loan will be cheaper, RBI took this big decisionmore
A Delhi High Court order received by private-sector lender Indiabulls Housing Finance toward market regulator Sebi has placed mutual fund houses in a tight position. The HC has permitted Indiabulls, a Non-Banking Financial Company (NBFC) not to pay its debenture holders, including fund houses, interest and principal, as far as the RBI requires banks and […]
Delhi HC orders Indiabulls Housing for the outstandings to NCD investors.more 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 Reserve Bank of India joined the huge battle on March 27 with a host of steps aimed at mitigating the harm from Covid-19 a day after Modi govt started his economy rescue in right earnest with a Rs 1.70 lakh crore coronavirus counter. Those steps come just hours after Moody’s Investors Service reduces India’s […]
Reserve Bank of India puts hold on Housing Loan EMI’s for the next three months.more
While the industry and policymakers evaluate the damage caused to the banking system by the Coronavirus attack, a ball-park possible based on the past forecast reveals that, in the worst-case scenario of macro-economic recession, bad loans may grow to 120 basis points with banks in the private sector experiencing high risk. A stress test performed by […]
Market forecast: Private sector banks may face the maximum risk of bad loans.more