#WeeklyNewsRoundUp: Centre To Invest Rs 266 Crore In Delhi Under AMRUT Scheme

The Centre has approved investments of Rs 266 crore for improving water supply and sewerage networks in Delhi under the Atal Mission for Rejuvenation and Urban Transformation scheme. With this, the national capital will get a total of Rs 489 crore for improving urban infrastructure. As per AMRUT guidelines, the Centre will provide a total of Rs 804 crore to Delhi for the five-year period.

Nudged by the government, banks are likely to slash interest rates in the next few days to lift the spirits of borrowers following demonetisation. Sources said the reduction in lending rates could be accompanied by a steeper cut in deposit rates. The central bank has already given borrowers another 30 days over and above 60-day window for repayment of housing, car, farm and other loans worth up to Rs 1 crore.

Putting in place disclosure norms for real estate investment trusts (REITs), markets watchdog Sebi said the offer document would contain financial information, related party transactions and past performances. The move comes after Sebi earlier this month had issued detailed norms for public issuance of REITs, including allocation of units to institutional investors.

Navi Mumbai Municipal Corporation (NMMC) will now allow residential societies, which have space in their premises, to build stilt or underground parking, to contain the menace of road parking. NMMC is also planning pay-and- park facilities as most housing societies developed by City and Industrial Development Corporation of Maharashtra (CIDCO) are running short of parking space.