Hardeep Singh Puri told Lok Sabha that the relationship between landlord and tenant was primarily a state subject but the Centre drafted a model law to help states | Latest News India
Rate-sensitive stocks mixed after RBI monetary policy announcement
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BSE Bankex and Finance index lost up to 0.35 per cent as concerns over stress in banks and NBFCs spooked investors.
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NEW DELHI: After the Reserve Bank of India s monetary policy announcements, rate-sensitive stocks were trading mixed. While banks and other financial stocks were trading lower, auto, consumer durables and realty indices showed decent gains.
BSE Bankex and Finance index lost up to 0.35 per cent as concerns over stress in banks and NBFCs spooked investors.
In its policy statement, RBI announced to expand the coverage of borrowers under resolution framework 2.0 and increased the limit of loans to Rs 50 crore for small businesses and individual loans.
RBI policy on expected linesWith reference to ‘RBI keeps rates unchanged to support growth’ (June 4), such a policy stance of not tinkering with the extant repo and reverse repo rates was expected fro
Synopsis
Minister of Housing and Urban Affairs Hardeep Singh Puri discusses the merits and challenges of the Model Tenancy Act for rental housing in India with ET Now s Nayantara Rai.
Model Tenancy Act provides model for urban and rural properties: Hardeep Singh Puri
The government of India on Wednesday approved the Model Tenancy Act, 2021 with a provision to set up district-wise rental courts, authorities and tribunals across the country. The Union Cabinet chaired by PM Modi approved the Act for circulation to all states and UTs for adaptation by way of enacting fresh legislation or amending existing rental laws.
Minister of Housing and Urban Affairs
Highlights
States will have to enact fresh legislation or amending existing rental laws suitably.
The Model Tenancy Act aims at creating a vibrant, sustainable and inclusive rental housing market in India.
New Delhi: The Union Cabinet on Wednesday (May 26) approved the `Model Tenancy Act` in a bid to help overhaul the legal framework with respect to rental housing across the country. The cabinet meeting was chaired by Prime Minister Narendra Modi.
The decision has been circulated to all states and Union Territories for adoption. They will have to enact fresh legislation or amending existing rental laws suitably. It (the model act) will help overhaul the legal framework with respect to rental housing across the country, which would help spur its overall growth, an official statement said.