Escrow account, routing of fund through specified agencies under consideration, real estate bodies want clarity in definition
The finance ministry is building safeguards to ensure realty companies do not misuse the external commercial borrowing (ECB) window announced in the Budget by diverting the money. A senior official told Business Standard modalities were being worked out for implementation of the Budget announcements. These were likely to specify the projects and also the developers who would be allowed to utilise the ECB facility.
Technology Partners: MimirTech
Links:
[1] http://admin.indiaenvironmentportal.org.in/news/govt-ensure-there-no-abuse-affordable-housing-ecb
[2] http://admin.indiaenvironmentportal.org.in/category/author/dilasha-seth-santosh-tiwari
[3] http://admin.indiaenvironmentportal.org.in/category/newspaper/business-standard-new-delhi
[4] http://admin.indiaenvironmentportal.org.in/category/thesaurus/housing
[5] http://admin.indiaenvironmentportal.org.in/category/thesaurus/construction-industry
[6] http://admin.indiaenvironmentportal.org.in/category/thesaurus/national-housing-bank-nhb
[7] http://admin.indiaenvironmentportal.org.in/category/thesaurus/ministry-housing-and-urban-poverty-alleviation
[8] http://admin.indiaenvironmentportal.org.in/category/thesaurus/housing-construction
[9] http://admin.indiaenvironmentportal.org.in/category/thesaurus/poverty
[10] http://admin.indiaenvironmentportal.org.in/category/thesaurus/economy
[11] http://admin.indiaenvironmentportal.org.in/category/thesaurus/habitat-and-urbanisation
