#RealtyNewsRoundup: RBI To Ask Banks To Pass On Rate Cut To Borrowers
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Reserve Bank Governor Shaktikanta Das has said he will meet heads of public and private sector banks on February 21 to discuss transmission of interest rate cuts to borrowers. Earlier this month, the Reserve Bank of India cut the benchmark interest rate by 25 basis points to 6.25 per cent. However, only a handful of banks, including State bank of India, have reduced their rates, only by five basis points.
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Three Indian cities have found a place in the top 20 of millennial-friendly cities in the Asia Pacific region. In a list prepared by Singapore-based financial analysis site ValueChampion, Bengaluru is positioned at the 18th spot while New Delhi and Mumbai tied at 19th spot. Singapore tops this list.
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Land owners in Karnataka will enjoy ease of doing business in converting their agriculture lad for non-agriculture purposes as the state government has launched a simplified affidavit-based online land-use process. The online platform would expedite the process and reduce paperwork.
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The Pune Municipal Corporation (PMC) has seized about 600 properties worth over Rs 500 crore over non-payment of property tax dues. The owners were first served notices, which, says the PMC, they ignored.
Source: Media reports