RERA to approach RBI for one-time debt recast to overcome liquidity crisis

CREDAI and Naredco have been demanding one time restructuring of developers outstanding loans with financial institutions to prevent bad loans and making them eligible for fresh borrowings

Press Trust of India | New Delhi
Last Updated at July 4, 2020 19:02 IST

construction, realty, workers, jobs, employment, labour, real estate, concrete, cement, buildings, high rise, migrants

Supertech Chairman R K Arora said a regulator was needed in the sector and the RERA law has helped in trust building

Real estate regulators will write within a week to the RBI, seeking one-time debt restructuring for the industry to help developers overcome the liquidity issues, Uttar Pradesh RERA Chairman Rajive Kumar said on Saturday.

TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST RS 249 A MONTH.

MONTHLY

₹ 249

Select

ANNUAL

₹ 1799

Select

Best Offer

SMART ANNUAL

₹ 1499

₹ 1799

Opt for auto renewal and save Rs 300

Select

What you get on Business Standard Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
Pick your 5 favourite companies, get a daily email with all news updates on them.
26 years of website archives.
Preferential invites to Business Standard events.