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Credit flow eased for cash-starved developers

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RBI extended the date of commencement of commercial operations of project loans for commercial real estate projects, which have been delayed for reasons beyond the control of the promoters The Reserve Bank of India (RBI) on Friday announced measures to ease liquidity for the cash-starved real estate sector, besides enhancing credit flow.

The move comes at a time when home sales have slumped and lending has dried up. The central bank extended the date of commencement of commercial operations (DCCO) of project loans for commercial real estate (CRE) projects, which have been delayed for reasons beyond the control of the promoters, by giving a year’s extension, over and above the one-year extension permitted, without treating it as

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COVID-19
United States
United States
Cases: 46 252 513
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Recovered: 0
India
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Deaths: 459 652
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Brazil
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Deaths: 608 235
Recovered: 0
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Deaths: 141 607
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Russia
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Recovered: 0
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