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- In a move that would accelerate the business in the GIFT City, Alternative Investment Funds could now invest in the IFSC through the Foreign Portfolio Investment, the Foreign Venture Capital Investor and the Foreign Direct Investment route. The Securities and Exchange Board of India on November 27 released the guidelines for AIFs, making the GIFT City a potential destination of investment to launch offshore funds for investment in India.
Now, Apps To Report Civic Issues; Corporations Come Closer To TechnologyMunicipal corporations across the country have realised the power of technology for tackling civic problems. For instance, the Bruhat Bengaluru Mahanagara Palike (BBMP) recently became the first municipal corporation to use space technology to address issues such as encroachment of lakes, illegal dumping of garbage, pothole menace, etc. by liaising with ISRO (Indian Space Research Organisation). The three municipal corporations of Delhi introduced a mobile application to enable users to find locations of public toilets nearby, police stations, metro stations, etc.
All You Need To Know About Citibank's T-Bill-Linked Home LoanNow that the Reserve Bank of India has mandated banks to switch to an external benchmark to offer home and auto loans from April 1 next year, one expects the market to be soon filled with such products. Home-grown banks would simply be doing in the country what a global giant has already done. US-based banking major Citi in March this year launched India’s first market benchmark rate-linked lending product. Here's all you need to know about the product.
Bengaluru Civic Body Set To Take Citizen Services OnlineIn a bid to improve the consumer experience and better Karnataka’s ease of doing business ranking, the Bengaluru Development Authority is planning to bring several citizen services online in India’s information technology capital. Going forward, citizens would be able to get building plans approvals and possession certificates online. At present, citizens can use the online medium to pay property tax payment in Bengaluru.
Mumbai Most Attractive Indian City For Real Estate Investment, Says ReportIn a report by the Urban Land Institute and PwC, India’s financial capital Mumbai has been ranked 13th among 22 Asian markets that have huge investment potential. Mumbai has emerged as the most attractive Indian city in the Asia Pacific region, followed by information technology capital Bengaluru and national capital New Delhi. In terms of development potential next year, Mumbai has ranked ninth while Bengaluru and New Delhi has been placed 14th and 13th, respectively.