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RBI mulls guidelines on property title searches

New Delhi: The Reserve Bank of India (RBI) may issue broad guidelines on property title searches to streamline the process and curb frauds involving title deeds accepted as mortgage security.The guidelines could prescribe a minimum search period, key documents and records to be verified, as well as precautions to be followed while preparing title search or legal background check reports, said people familiar with the development."The RBI had sought suggestions from banks on this issue. We have, after an internal discussion, sent our inputs stating that the process and other related decisions should be left to individual banks," a bank executive said on condition of anonymity, adding that the RBI may issue broad guidelines to devise the process for title search.132245734Queries emailed to the RBI did not elicit a response till press time.A Supreme Court judgement last year said that the RBI and other stakeholders should collaborate in developing a standardised and practical ap...
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BOM is new battleground for South realty cos

Mumbai's property market is witnessing a fresh wave of competition as some of south India's largest real estate developers accelerate their entry into the country's biggest market, attracted by sustained housing demand and high-value redevelopment opportunities. Unlike earlier attempts by out-of-market players, the latest entrants are adopting a calibrated strategy centred on redevelopment projects, joint development agreements and partnerships with local landowners, providing a capital-efficient route into India's most expensive property market. Developers including Prestige Group, Puravankara, Shriram Properties, Sobha, Casagrand and RMZ have either entered or about to enter Mumbai through redevelopment projects and land acquisitions across the Mumbai Region as they seek to diversify beyond their core markets. “Mumbai is one of India's most resilient and aspirational real estate markets, driven by strong end-user demand, a robust commercial ecosystem and a discern...
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Australia wins Women's T20 World Cup after

from Economic Times https://ift.tt/3Q06Cjx
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Bethell spoils Sooryavanshi's day: Eng beat India

from Economic Times https://ift.tt/KpLNUZD
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UDAN flights discontinued on 50% of routes

from Economic Times https://ift.tt/HulIxyG
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World Cup fails to score for TV makers

Kolkata: The FIFA World Cup has failed to deliver the sales boost India's television makers have traditionally counted on during major sporting events. TV sales remained largely stagnant in June year-on-year, against the 15-25% jump the industry expects during such tournaments, according to manufacturers, retailers and market researchers.Companies attributed the weak demand to a combination of factors: television prices have risen 15-20% over the past six months following a surge in memory chip costs, many matches are being telecast at inconvenient hours for Indian viewers, and an increasing number of consumers are choosing to stream games on smartphones instead of buying bigger-screen TVs. Prices of memory chips used in televisions as well as smartphones, tablets and laptops have escalated two-three times since November last year.Even in football strongholds such as Kerala, Goa, West Bengal and the Northeast, the initial uptick in demand proved short-lived for the quadrennial inte...
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US oil companies see big jump in profit

US oil companies are set to report their strongest quarterly profits in years, courting a possible clash with President Donald Trump, who has been pressing his longtime ally Big Oil to bring down gasoline prices before midterm elections in November. After months of Americans complaining about pain at the pump, Exxon Mobil and Chevron are expected to report second-quarter earnings in the coming weeks that are more than triple first-quarter levels. Oil prices spiked after the U.S.-Israeli war on Iran began in late February and global fuel supplies tightened.Also read | June: 10 mbpd, May: 3 mbpd: Gulf oil exports up, but 40% below pre-war level"The industry is definitely talking to each other and thinking of ways to deal with it, but we know what's coming. We understand the politics," said one industry executive, speaking anonymously. Since shipping through the Strait of Hormuz resumed last month, Trump has said he wants the national average to fall to about $2.50 a gallon ...
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