Budget 2020 India: While the home loan segment has erred in the recent past, it must still be protected and supported. Here is why.
HDFC Chairman Deepak Parekh has sought for a one-time restructuring to kick-start lending to the sector
Edelweiss AMC, Kotak Mahindra AMC, Axis Asset Management and Reliance AMC had moved the Bombay High Court seeking a direction to DHFL to disclose all its assets and liabilities and also to temporarily prevent it from making payments/disbursements to secured and unsecured creditors.
State Bank chairman Rajnish Kumar said if there is scope for restructuring, then one should do it
If lenders are asked to invest more money in such projects, they would not be able to do that. Developers, in turn, would not be able to construct and finish the project without further investments, thus leading to a stalemate.
Even as the unsold inventory rises, the Reserve Bank of India (RBI) could consider a one-time restructuring of realty loans to maintain liquidity and ensure completion of projects, HDFC Chairman Deepak Parekh said.
HDFC Chairman Deepak Parekh, on Wednesday, called for a one-time restructuring of certain real estate loans as a means to overcome the “current crisis of confidence” that has beset the housing finance and NBFC sector.
Mumbai: Deepak Parekh, chairman of the country’s largest housing finance company HDFC, has called for a special dispensation allowing lenders to restructure loans to builders without classifying them as defaulters to enable last-mile funding and project completion
The demand made on Wednesday came ahead of the government later in the evening approving setting up of a Rs 25,000-crore bailout fund to finance as many as 1,600 stalled housing projects.