Lodha Sells Rs 1,600-Crore Flats During Pre-Launch

Representational image Mumbai: Realty player Lodha Group on Monday said it has sold 2,000 flats worth Rs 1,600 crore at its township project in the adjoining Thane district during its pre-launch phase. The Group received interest from over 3,000 home buyers across India to book flats during the pre-launch phase…

Facebook’s Zuckerberg Settles Real Estate Lawsuit For No Payout

San Francisco: Mark Zuckerberg has agreed to settle a lawsuit and pay no money to a real estate developer who sued him in a dispute over property near the Facebook Inc chief executive’s home in Silicon Valley, his lawyer said on Tuesday. Developer Mircea Voskerician sued Zuckerberg in 2014, contending…

RBI Releases Final Rules for Payments, Small Finance Banks Licenses

Reserve Bank of India (RBI) issued on Thursday final guidelines for companies seeking to set up so-called payments banks and small finance banks in a bid to expand banking services to more people and small businesses. Payments banks can accept deposits and remittances but cannot provide loans. Small finance banks…

Funding The Unfunded: New Bank To Help Small Businesses Grow

Mumbai: A new bank announced in the annual budget last week could boost loans and cut borrowing costs for India’s cash-starved small businesses — tailors, mechanics and phone booth operators who account for around a fifth of the economy. MUDRA bank – to be set up with $3.2 billion of…

PM Modi to Launch MUDRA Bank Tomorrow

New Delhi: Prime Minister Narendra Modi will tomorrow launch MUDRA Bank which will provide credit of up to Rs 10 lakh to small entrepreneurs and act as a regulator for ‘Micro-Finance Institutions’ (MFIs).   The roles envisaged for MUDRA include laying down policy guidelines for micro enterprise financing business and…

85% Small Business Owners Start With Personal Savings: Report

Guwahati: Some 85 per cent small business owners start off by utilising only personal savings, affecting the way decisions are made as well as how entities are run, according to a report. According to the report, prepared for financial management solutions provider Intuit India by research firm International Data Corporation,…