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

Navi Mumbai civic body demolishes unauthorised constructions in Belapur

04 Jul 2026

The Navi Mumbai Municipal Corporation (NMMC) has carried out a demolition drive against unauthorised constructions in the Belapur division as part of its ongoing enforcement against illegal developments. The action was undertaken under the directions of Municipal Commissioner Dr Kailas Shinde and supervised by Additional Commissioner (II) Dr Rahul Gethe and Deputy Commissioner Dr Amol Palwe. The demolition targeted two unauthorised structures in Agroli and Karave villages after notices issued under Section 54 of the Maharashtra Regional and Town Planning (MRTP) Act failed to secure voluntary compliance. The operation involved officials from the Belapur ward office, civic staff, police personnel and heavy equipment to remove the illegal constructions.Read more

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NMMC and CIDCO demolish unauthorised structures in Nerul joint enforcement drive

04 Jul 2026

The Navi Mumbai Municipal Corporation (NMMC), in coordination with the City and Industrial Development Corporation (CIDCO), demolished an unauthorised ground-plus-one (G+1) reinforced cement concrete (RCC) structure in Nerul as part of a joint anti-encroachment drive conducted earlier this week. The action was carried out on a notified CIDCO plot measuring approximately 600 sq m in Sector 6 after the occupants failed to comply with a statutory notice issued under the Maharashtra Regional and Town Planning (MRTP) Act, 1966. The demolition was undertaken using heavy machinery under the supervision of senior civic officials. The civic body has stated that similar enforcement drives against unauthorised constructions will continue across Navi Mumbai.Read more

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HiWiPay receives IFSCA in-principle approval to establish payment services entity in GIFT City

04 Jul 2026

Cross-border payments platform HiWi Forex Transaction Services Pvt Ltd (HiWiPay) has received in-principle approval from the International Financial Services Centres Authority (IFSCA) to establish a wholly owned Payment Service Provider (PSP) subsidiary in GIFT International Financial Services Centre (GIFT IFSC). Subject to meeting regulatory requirements and obtaining final authorisation, the proposed entity will provide services including cross-border money transfers, merchant acquisition, account issuance, e-money issuance and escrow facilities. The move is aimed at strengthening payment infrastructure for exporters, SMEs, freelancers and digital businesses by streamlining international collections, foreign exchange management, settlement processes and regulatory compliance through a technology-driven platform.Read more

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Bombay HC Upholds MHADA Redevelopment GRs, Clears Path for Bandra and Worli Housing Clusters

Mumbai News Desk

03 Jul 2026

The Bombay High Court has upheld two Maharashtra government resolutions (GRs) governing the cluster redevelopment of MHADA layouts, dismissing petitions filed by cooperative housing societies challenging the policy. The ruling paves the way for the redevelopment of key MHADA layouts in Bandra Reclamation and Adarsh Nagar, Worli. The court held that the policy serves a larger public purpose by enabling planned redevelopment of ageing housing colonies, improving infrastructure and ensuring optimal land utilisation while balancing the interests of residents and the state.Read more

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BMC to Initiate Police Action Against Contractor After Fatal Sakinaka Manhole Incident

Mumbai News Desk

03 Jul 2026

The Brihanmumbai Municipal Corporation (BMC) has decided to file a police complaint against the contractor responsible for drain repair work at Mumbai's Sakinaka after a 55-year-old man died by falling into an open manhole during heavy rain. The civic body has also suspended four officials pending an inquiry and announced disciplinary action, with the incident sparking renewed scrutiny of safety protocols at civic work sites. The tragedy has intensified calls for stricter supervision of contractors and stronger safeguards during monsoon infrastructure works.Read more

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Two Ceiling Slab Collapses Across Mumbai Claim Two Lives, Raise Fresh Building Safety Concerns

Mumbai News Desk

03 Jul 2026

Two separate ceiling slab collapse incidents in Mumbai and Navi Mumbai have claimed two lives, once again drawing attention to the structural safety of ageing residential buildings during the monsoon. One tragedy occurred in Kamothe, where a man died after the ceiling of his bedroom collapsed while he was asleep, while another fatal incident was reported in South Mumbai. The accidents have renewed concerns over delayed structural audits, ageing infrastructure and the urgent need for preventive maintenance before the rainy season.Read more

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Delhi sets October 31 deadline for property applications in unauthorised colonies

03 Jul 2026

The Delhi government has fixed October 31, 2026, as the final date for residents of 1,511 unauthorised colonies to apply for conveyance deeds and authorisation slips under the Pradhan Mantri Unauthorised Colonies in Delhi Awas Adhikar Yojana (PM-UDAY). The decision follows a lower-than-expected response since the application process resumed earlier this year, with only around 2,000 applications received. The deadline is intended to encourage eligible property owners to complete the regularisation process and secure legal ownership documents required for property registration. The Revenue Department has also established dedicated PM-UDAY Cells across all district magistrate offices to facilitate applications and document issuance.Read more

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BMC forms probe panel after fatal Chembur tree collapse exposes urban infrastructure safety concerns

03 Jul 2026

The Brihanmumbai Municipal Corporation (BMC) has constituted a two-member inquiry committee following the fatal collapse of a peepal tree on a school bus in Chembur, Mumbai, which claimed the life of an 11-year-old student and injured four others. The civic body has also suspended officials pending investigation and ordered a citywide reinspection of potentially hazardous trees. The incident has renewed scrutiny of Mumbai's urban infrastructure, particularly the coordination between road construction and tree maintenance, after reports indicated earlier warnings over root damage in the area. The inquiry will examine the cause of the collapse and recommend measures to strengthen public safety during the monsoon.Read more

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Goa approves ‘Mhajo Flat’ scheme to grant ownership rights to flat owners

03 Jul 2026

The Goa Cabinet has approved the ‘Mhajo Flat’ scheme to provide legal ownership rights to thousands of flat owners who have been unable to obtain title to their properties because of disputes between developers and landowners or incomplete conveyance procedures. Announced in the past week, the initiative includes amendments to the Goa Cooperative Societies Act, the Indian Stamp Act and related revenue provisions to facilitate unilateral deemed conveyance. The state government said the scheme would enable cooperative housing societies to secure conveyance even where developers have abandoned projects or legal disputes remain unresolved. It also introduces concessional stamp duty and registration charges to simplify the process and is expected to support the redevelopment of ageing residential buildings across Goa.Read more

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Gaya’s INR 65 crore six-lane Falgu bridge turns into traffic bottleneck as vendors occupy carriageway

03 Jul 2026

• A six-lane bridge over the Falgu River in Gaya, built at a cost of INR 65 crore, is facing congestion due to encroachment by roadside vendors.
• Stalls selling fruits, vegetables, snacks and daily-use items have occupied parts of the carriageway, reducing available road space.
• Commuters say the bridge often functions like a four- or five-lane road instead of a six-lane corridor.
• The encroachment has raised concerns over traffic bottlenecks, pedestrian safety and accident risks.
• The bridge was developed to improve connectivity between Gaya and Manpur and support movement on Bihar’s Buddhist Circuit.
Read more

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