SME Times is powered by   
Search News
Just in:   • UP govt approves new start-up policy  • Yes Bank case: ED attaches Rs 2,203 cr assets of Kapoor, others  • Thunderbolt 4 PCs expected later this year: Intel  • Samsung to make all Smart Watches in India, unveils 1st desi device  • Mastercard commits Rs 250 cr to support SMEs 
Last updated: 16 Feb, 2020  

Housing.9.Thmb.jpg Centre clears Rs 540 cr from stress fund for stalled housing projects

Housing.9.jpg
   Top Stories
» UP govt approves new start-up policy
» Mastercard commits Rs 250 cr to support SMEs
» 'India, Bangladesh have scripted golden chapter in partnership'
» KVIC begins online sale of Khadi face masks
» Platform launched for tech startups to explore US market
SME Times News Bureau | 15 Feb, 2020

The government on Friday said it has cleared investments of over Rs 540 crore in stalled residential properties that will benefit 1,800 homebuyers.

"Special Window clears projects with capital commitment of more than Rs 540 Crores. Disbursements started which will provide relief to 1800 home buyers and unlock Rs 3000 Crores of invested capital," the Finance Ministry said in a tweet.

Further, preliminary clearance has been given for due diligence to 14 projects with capital commitment of Rs 2,500 crore that will provide relief to 10,000 home buyers and release Rs 12,500 crore of invested capital, it said, adding that around 40 more deals under active consideration for investment.

The Central government last year announced a Rs 25,000 crore fund to help complete over 1,500 stalled housing projects, including even those that have been declared NPAs (non-performing assets) or admitted for insolvency proceedings. The move is likely to help 4.58 lakh housing units across the country with only RERA-registered projects with positive net worth will be provided funds.

The Rs 25,000 crore fund is in form of alternative investment fund (AIF). The Centre is infusing Rs 10,000 crore into this stress fund, while the remaining being provided by state insurer LIC and SBI. The AIF is being managed by SBI Caps.

 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 10 Jul, 2020
  Daily Poll
COVID-19 has directly affected your business
 Yes
 No
 Can't say
  Commented Stories
» Pain points for MSMEs(3)
» UP govt to change lives of migrants: MSME Principal Secy(2)
» Starting an import export business: Basic guide for beginners(1)
» China's forex reserves reach USD 2.85 trillion(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter