SBI Term Loan: RLLR: 8.15 | 7.25% - 8.45%
Canara Bank: RLLR: 8 | 7.15% - 10%
ICICI Bank: RLLR: -- | 8.5% - 9.65%
Punjab & Sind Bank: RLLR: 7.3 | 7.3% - 10.7%
Bank of Baroda: RLLR: 7.9 | 7.2% - 8.95%
Federal Bank: RLLR: -- | 8.75% - 10%
IndusInd Bank: RLLR: -- | 7.5% - 9.75%
Bank of Maharashtra: RLLR: 8.05 | 7.1% - 9.15%
Yes Bank: RLLR: -- | 7.4% - 10.54%
Karur Vysya Bank: RLLR: 8.8 | 8.5% - 10.65%

Law & Policy

IMD issues season's first red alert as Mumbai receives over 100 mm rainfall in several areas

08 Jul 2026

• The India Meteorological Department (IMD) issued the season's first red alert for Mumbai and adjoining districts as intense monsoon activity triggered widespread heavy rainfall.
• Several parts of Mumbai recorded more than 100 mm of rainfall within 24 hours, causing waterlogging, traffic congestion and disruption to suburban rail and road transport.
• Civic authorities intensified flood response measures, while schools in some neighbouring districts were shut as a precaution and residents were advised to avoid unnecessary travel.
• The IMD attributed the weather to multiple active monsoon systems and warned that heavy to extremely heavy rainfall could continue over Konkan and adjoining regions in the coming days.
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Smoke from meter room fire injures 11 in Jogeshwari residential building

Mumbai News Desk

07 Jul 2026

• Eleven people were injured after a fire broke out in the meter room of a residential building in Mumbai's Jogeshwari area.
• Thick smoke spread rapidly through the six-storey structure, prompting a rescue operation by the Mumbai Fire Brigade.
• Most of the injured suffered from smoke inhalation and were shifted to nearby hospitals for treatment.
• Authorities have launched an investigation into the cause of the fire while highlighting the risks posed by electrical installations in residential buildings.
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ED attaches properties worth INR 58.34 crore linked to former Bhushan Steel promoter's family

07 Jul 2026

The Enforcement Directorate (ED) has provisionally attached assets worth INR 58.34 crore belonging to Ritu Singal, wife of former Bhushan Steel promoter Neeraj Singal, in connection with a money laundering investigation linked to alleged diversion of company funds. The attached assets include land and part of a residential property in Indore, Madhya Pradesh, along with equity shares and bank balances. The action forms part of an ongoing investigation initiated on the basis of a complaint filed by the Serious Fraud Investigation Office (SFIO). The agency has alleged that funds were diverted from Bhushan Steel through fraudulent transactions, causing substantial losses to financial institutions.Read more

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UP RERA clears 10 real estate projects worth INR 1,278 crore across four districts

07 Jul 2026

The Uttar Pradesh Real Estate Regulatory Authority (UP RERA) has approved 10 new real estate projects across Lucknow, Gautam Buddha Nagar, Agra and Ghaziabad, involving an estimated investment of INR 1,278 crore. The developments comprise residential, commercial and mixed-use projects that will collectively create around 4,498 residential and commercial units. Lucknow accounted for the highest number of approved projects, while Gautam Buddha Nagar attracted the largest investment value. UP RERA said the approvals are expected to support planned urban development, meet rising demand for housing and commercial infrastructure, generate employment during construction, and stimulate allied sectors. The authority also reiterated its commitment to ensuring regulatory compliance and timely project completion under the Real Estate (Regulation and Development) Act.Read more

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Bihar approves user fee framework for state highways to fund road maintenance

07 Jul 2026

The Bihar Cabinet has approved a new framework for levying user fees on state highways, introducing a dedicated mechanism to finance the development, upgradation and maintenance of the state's road network. Cleared under the Road User Fee (Determination and Collection of Rates) Rules, 2026, the policy establishes vehicle-wise user fee rates, annual revisions, exemptions for specified categories, concessional passes and discounts for frequent users. It also prescribes higher charges for vehicles without FASTag and contains provisions relating to overloaded vehicles.Read more

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Punjab Cabinet amends land pooling policy to enhance benefits for landowners

07 Jul 2026

The Punjab Cabinet has approved amendments to the state's land pooling policy aimed at increasing benefits for landowners while introducing measures to simplify project implementation and regularisation processes. Cleared during a Cabinet meeting in the past week, the revised policy increases the entitlement of commercial plots and provides larger residential plots for landowners opting out of commercial allotments. The amendments also introduce a special Letter of Intent provision for small farmers, extend the validity of Sahuliyat Certificates and exempt original landowners from stamp duty on developed plots allotted under the policy. In addition, the Cabinet approved changes to facilitate the regularisation of unauthorised colonies and waived facilitation charges for several citizen services linked to the ongoing electoral roll revision exercise.Read more

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Bombay High Court clears way for MHADA's cluster redevelopment of Bandra Reclamation and Adarsh Nagar

07 Jul 2026

The Bombay High Court has upheld the Maharashtra government's decision to undertake integrated cluster redevelopment of MHADA layouts at Bandra Reclamation and Adarsh Nagar, dismissing petitions challenging the policy and tender process. The court observed that planned cluster redevelopment would enable better infrastructure, amenities, open spaces and coordinated urban planning compared to fragmented redevelopment. he redevelopment will cover approximately 98.27 acres at Bandra Reclamation and 34.33 acres at Adarsh Nagar, involving several ageing residential buildings developed by MHADA.Read more

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Gujarat HC seeks accountability over Surat demolition that left 100 families homeless

07 Jul 2026

The Gujarat High Court has sharply questioned the state government and Surat Municipal Corporation (SMC) over the demolition of nearly 100 houses in Surat's Nasir Nagar, observing that the action appeared to have been carried out without following due legal procedure. The court has sought a rehabilitation plan for the affected families and asked civic authorities to explain how residents were rendered homeless. The case has also prompted disciplinary action against civic officials, placing renewed focus on accountability and procedural safeguards in demolition drives.Read more

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NHAI suspends officials after road cave-in on Delhi–Dehradun Expressway

06 Jul 2026

The National Highways Authority of India (NHAI) has suspended two officials and issued show cause notices following a road surface cave-in on the Delhi–Dehradun Expressway that gained attention after a video circulated online. NHAI attributed the incident to localized water stagnation caused by heavy rainfall and delays in commissioning a permanent drainage system. The damaged section has been repaired and reopened to traffic. The authority has also started constructing an interim drain and is monitoring the affected stretch while disciplinary action against the concerned officials and contractor is underway.Read more

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Telangana High Court Declines Interim Stay on Sale of Disputed Kukatpally Land

06 Jul 2026

The Telangana High Court has declined to grant an interim stay on the sale of disputed land in Hyderabad's Kukatpally area, allowing property transactions to continue while the legal proceedings remain pending. The dispute involves ownership claims over nearly 400 acres of land, with petitioners alleging illegal transactions. The court directed the parties to complete pleadings before further hearings, indicating that the merits of the ownership dispute will be examined during the course of the case.Read more

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