The Reserve Bank of India has significantly reduced mandatory provision requirements for commercial real estate and infrastructure projects, offering relief to lenders. These revised guidelines, effective October 1, aim to sustain the flow of funds, particularly to infrastructure projects. The reduced provisions apply to both under-construction and operational projects, excluding existing ones, thereby limiting the impact on lenders’ capital costs.
Asian stocks advance as Fed’s rate cut lifts mood
Asian markets followed Wall Street higher after the US Federal Reserve lowered interest rates. Fed Chair Jerome Powell indicated confidence in the US economy’s future.