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Banking | RBI plans to start housing start-up index

Banking | RBI plans to start housing start-up index
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First Published: Thu, Mar 05 2009. 10 38 PM IST
Updated: Thu, Mar 05 2009. 10 38 PM IST
Mumbai: The Reserve Bank of India on Thursday said it may launch a housing start-up index, based on newly built residential units in urban India , on a quarterly basis.
The Indian central bank plans to set up a committee to oversee the exercise.
The development of such an index is one of the major recommendations of a technical advisory group, constituted by the banking regulator to suggest a methodological framework and institutional arrangements for regular compilation of the Housing Start-up Index.
Higher demand for housing has a positive impact on sectors such as steel and cement. Besides, the construction sector employs millions of workers.
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First Published: Thu, Mar 05 2009. 10 38 PM IST