Indian shares dropped the most in nearly four weeks on Friday, ending down over 1%, as investors locked in profits following the benchmark indexes hitting multiple record highs this week and as a proposed U.S. stimulus package failed to surprise.
Indian shares dropped the most in nearly four weeks on Friday, ending down over 1%, as investors locked in profits following the benchmark indexes hitting multiple record highs this week and as a proposed US stimulus package failed to surprise.
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On Tuesday, Union minister for housing and urban affairs, Hardeep Singh Puri, released a report prepared by Moneylife Foundation to document the efficacy of Real Estate Regulation and Development Act, 2016 (RERA) in India from the consumer perspective. The research project, made possible due to the support of Housing Development Finance Corp (HDFC) and its top management team, highlighted that RERA has been a game changing legislation that has imposed discipline, transparency and accountability on developers and intermediaries.
However, the Report on Efficacy of RERA From the Consumer Perspective 2020 shows that the implementation of the law has been slow. While the report documents great strides made by some states like Maharashtra, it also points out that adoption and implementation across different states is uneven. West Bengal stands out like a sore thumb having enacted its own law. It has taken three years for some states to fall in line. Here is the current st