#RealtyNewsRoundUp: India Jumps 30 Places In Ease Of Doing Business Ranking
Description
India has jumped 30 places to rank 100th in the World Bank's Ease of Doing Business ranking, helped by a slew of reforms in taxation, licensing, investor protection and bankruptcy resolution. However, India still lags in areas such as starting a business, enforcing contracts and dealing with construction permits. Ranked 154 on this parameter, India has fallen 16 places on ease of registering property.
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Public lender State Bank of India (SBI) has cut is benchmark lending rate by 0.05 per cent across maturities, effective from November 1. The reduction in marginal cost of funds-based lending rate (MCLR) by the bank has brought the rate down to 7.95 per cent from 8 per cent.
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The Delhi Development Authority's demolition drive at West Delhi's Kathputli colony has been stayed for 10 days by the Delhi High Court. This will help people eligible for relocation to move out voluntarily. Those ineligible for the same will get time to appeal against the action.
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The Delhi High Court has asked the Delhi transport department to inform it about the steps taken to curb pollution since August. A Bench sought an action plan from the authorities on how they intended to ensure compliance of the law and rules regarding polluting vehicles.
Source: Media report