The ordinance passed by Government of India on Wednesday (June 06, 2018) to Insolvency and Bankruptcy Code (IBC) treats home buyers in ailing real estate companies on par with banks in the resolution process. The new IBC ordinance tags the buyers of home buyers with financial creditors which empowers even a single home buyer to…
RBI extends relief to all MSMEs that was till now only available to GST registered MSMEs having credit facilities up to Rs.25 Crores to repay loan up to 180 days (as against 90 days) without being classified as NPAs. In order to enable other MSMEs for their transition to formalised sector (MSMEs) and also keeping…
Beside the policy decision to hike the Repo rate by 25 bps, RBI on Wednesday (06.06.2018) revised the housing loan limits for priority sector lending from existing limit of Rs.28 lakhs to Rs.35 lakhs in Metropolitan Centers provided the overall cost of dwelling unit does not Rs.45 lakhs. The limit for other centers for classification…