Things to know while buying and selling house property, associated costs involved in home loans, EMI calculation tax rules etc.

This post provides you the key legal checklist for buying and selling a house property; method of title deed verification, database available with CERSAI and RERA, EMI calculation, associated costs of home loans, teaser rates, risks involved in transferring of loan to other banks, rules regarding funds transfer abroad after disposal of properties in India;…

RBI relaxes bad loans provisioning rules for banks, permits 100% utilization of floating provisions

The Reserve Bank of India (RBI) Governor Shaktikanta Das on Wednesday announced that banks are allowed to utilise100 per cent of floating provisions/counter-cyclical provisioning buffer for making specific provisions for non-performing assets. RBI in its circular dated May 5, 2021 stated that “In order to mitigate the adverse impact of COVID 19 related stress on…

Important measures are taken by RBI in the recent past to preserve the financial stability of the country

In the Statement of Development and Regulatory Policies released on March 27, 2020, RBI released several regulatory measures to mitigate the burden of debt servicing brought about by disruptions on account of COVID-19 pandemic and to safeguard the continuity of viable businesses. The package includes Rescheduling of Term Loans and Working Capital payments, recalculate the…

RBI tells UCBs to report Large Exposures to Central Repository of Information on Large Credits (CRILC)

To bring cooperative banks closer to the reporting standards of commercial banks, the RBI on December 27, 2019, mandated Urban Co-operative Banks to report credit information, including classification of an account as a special mention account (SMA) to the central repository of information on large credits (CRILC). The CRILC database is used by banks and…