Real Estate: Government To Launch Its Own Realty Portal
The government is set to launch a realty portal of its own, initially with about 50,000 residential properties that you can bid for online. These are properties that debt recovery tribunals (DRTs) have allowed banks to sell through auction, after their owners defaulted on loan repayment. The government portal, which is yet to go live, will provide details such as the floor area of the properties and allow anyone to bid directly after electronically making the earnest money deposit.
 
The new portal will remove banks from the auction process, although the sale proceeds will flow into their accounts for loan recovery. To participate in the auction, a person will have to first register on the portal by submitting the KYC (know your customer) information, which includes permanent account number (PAN) and Aadhaar number.

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Banking: SBI Cuts Lending Rate by 0.4%
State Bank of India (SBI) slashed minimum lending, or base, rate by 0.4% to 9.3%, from 5th October, setting the trend of a benign interest rate regime. With the base rate reduction, all loans, including home, auto and corporate, would become cheaper by at least 0.40%. Arundhati Bhattacharya, chairman SBI said: “RBI (Reserve Bank of India) has cut interest rate by 0.50%, we have reduced it by 0.40%.” The Bank will also be cutting fixed deposit rates by 0.25% across various maturities from 5th October, she added.RBI cut the repo rate to 6.75%.

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Alleged Shiv Sainiks smear ink on Kasuri book-launch organiser
Barely hours before the launch of a book by former Pakistani foreign minister Khurshid Mahmud Kasuri, the main organiser and former journalist Sudheendra Kulkarni alleged he was abused and attacked with ink by suspected Shiv Sainiks here on Monday.
 
The incident happened when Kulkarni was leaving his home in Sion, southcentral Mumbai, when a group of around a dozen alleged Sena activists accosted him.
 
They shouted slogans and asked him to cancel the event scheduled later Monday afternoon and then allegedly smeared him with black ink.
 
An ally in the state's ruling coalition and at the centre, the Shiv Sena has strongly opposed the function to launch Kasuri's book "Neither a Hawk Nor a Dove: An Insider Account of Pakistan's Foreign Policy".
 
The party has warned that it would not allow the event, while Maharashtra Chief Minister Devendra Fadnavis has assured full support and security to the function organised by the Observer Research Foundation think tank.
 
Last week, the Shiv Sena threatened the staging of two concerts by renowned Pakistani ghazal maestro Ghulam Ali that were subsequently cancelled in Mumbai and Pune.
 
"The Shiv Sena has no authority to impose such a ban... We have taken a principled stand and shall not cancel the event," Kulkarni told mediapersons.
 
Kasuri has already arrived in Mumbai and Kulkarni has requested Fadnavis to ensure adequate security for him.
 
Last night, Kulkarni met Sena President Uddhav Thackeray but failed to get any assurance on holding the function peacefully.
 
On Monday, Sena spokesperson Sanjay Raut, said: "It is difficult to predict where people's anger against Pakistan would erupt."
 
Bharatiya Janata Party spokesperson Shaina NC said the incident would be probed and those responsible for it would be booked.
 
Meanwhile, a tight security blanket envelops the venue, Nehru Centre in Worli, since Sunday evening to ward off any untoward incidents.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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