Getting real about real estate

The failure of PMC Bank has once again thrust attention on the ailing residential real estate market in India. While there was corruption involved in PMC Bank’s downfall, its demise was essentially sparked by loans to a real estate firm that could not pay it back. The flagging residential real estate market is a cause for grave concern for the economy as a whole and the financial sector in particular. Former RBI chief, Raghuram Rajan has also recently remarked on the broad shadow the real estate sector casts on the entire economy and the risks to the banking sector. More worryingly, hist.....

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