Housing affordability worsened under Modi rule, reveals RBI survey

News Network
July 12, 2019

Although there has been emphasis and hype over affordable housing after Prime Minister Narendra Modi-led government came to power over five years ago, an RBI survey released on Thursday shows that affordability in the country's housing sector has deteriorated in the last four years.

"Housing affordability worsened over the past 4 years as the house price to income (HPTI) ratio increased from 56.1 in March 2015 to 61.5 in March 2019," said the Residential Asset Price Monitoring Survey.

Mumbai remains the least affordable city in India, while Bhubaneswar remains the most affordable, it said.

The report also said that the movement of median loan to income (LTI) ratio also confirms worsening housing affordability as it moved from 3.0 in March 2015 to 3.4 in March 2019.

The median EMI-to-Income (ETI) ratio, however, remained relatively steady during the past 2 years, with exceptions of Mumbai, Pune and Ahmedabad which recorded higher median ETI compared to other cities.

The central bank's survey further observed that the median loan-to-value (LTV) ratio moved from 67.7% to 69.6% between March 2015 and March 2019 showing that banks have become increasingly risk tolerant. LTV is a measure of credit risk on housing loans.

The survey was conducted in Mumbai, Chennai, Delhi, Bengaluru, Hyderabad, Kolkata, Pune, Jaipur, Chandigarh, Ahmedabad, Lucknow, Bhopal and Bhubaneswar.

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News Network
June 29,2020

Mangaluru, Jun 29: A hospital set up in 1848 in the Port City has to remain closed till July 5 as majority of the Doctors and Staff at Lady Goschen Government Hospital are quarantined after coming in contact with a COVID-19 infected person.

Hospital Medical Superintendent said that both in-patient and out-patient wings of the hospital will remain closed till July 5 as there is a need to fumigate and sanitise all the departments of the hospital. Patients for treatment under 'Ayushman Bharat – Arogya Karnataka' scheme will be sent to private medical colleges with the referral card from the hospital. The hospital will start functioning normally from July 6.

The Lady Goschen Government Hospital, earlier known as the maternity Hospital, is the oldest hospital in the district and dates back to 1848.

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News Network
January 16,2020

Bengaluru, Jan 16: Former chief minister Siddaramaiah and other leaders are likely to make the final decision on the name of the next Congress president of Karnataka soon, said party leader Dinesh Gundu Rao on Thursday.

"He (Siddaramaiah) has met all the leaders and I think soon they will make a decision. It has already been delayed, it should not have been delayed so much. I am sure high command will take a decision on this," Rao told reporters here.

Both Siddaramaiah and Gundu Rao had resigned from their posts, Leader of Congress Legislature Party and KPCC president, after the party's drubbing in the bye-elections held for 15 Assembly seats last year.

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News Network
June 3,2020

Mumbai, Jun 3: With an expected increase in wind conditions up to 120 kilometres, cyclone Nisarga is likely to make landfall on the north coast of Maharashtra later today, as per the Indian Meteorological Department (IMD) on Wednesday.

"Wind conditions will further increase up to 100-110 gusting to 120 kmph as conditions are favourable for intensification. The higher sea surface temperature and low vertical wind shear favoured the intensification of severe cyclonic circulation," said IMD in a series of tweets.

Explaining the nature of wind speed, IMD further tweeted, "Eye diameter is about 65 km as observed through Radar. thus the diameter has decreased during past 01 hours indicating intensification of the system. hence wind speed has increased from 85-95 kmph to 90-100 kmph gusting to 110 kmph."

Several National Disaster Response Force (NDRF) teams have been deployed across Maharashtra to ensure preparedness for the impending cyclone. A total of eight teams have been deployed in Mumbai, five teams in Raigad, two teams in Palghar, Thane, and Ratnagiri and one team in Sindhudurg, said NDRF.

Besides, five NDRF teams were airlifted by IL-76 from Vijaywada for Mumbai on June 2, as per the Indian Air Force (IAF)

"Around 60 per cent of people, from the coastal areas around this area, have gone to their relatives' places. The remaining ones have been sent to the evacuation centre. We have also taken into account the COVID-19 guidelines and ensured social distancing," NDRF officer Shiv Parada Rao, deployed with his team in the Dahanu area, spoke to ANI.

"From the information we have received cyclone Nisarga is likely to hit here by tonight. The exact time is not confirmed yet. We are taking all preparedness measures to tackle the situation," he added.

NDRF teams also conducted evacuation in Alibaug during the early hours on Wednesday morning, as per NDRF Director General SN Pradhan.

As per the 5 am bulletin released by IMD, cyclone Nisarga was heading towards north Maharashtra coast at a speed of 11 kmph. It was about 200 km South -SouthWest of Alibag and about 250 km south-southwest of Mumbai at 2.30 AM today, stated the bulletin.

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