RBI extends DCCO of project loans for commercial real estate

Reserve Bank of India (RBI) on Thursday extended the date of commencement of commercial operations (DCCO) of project loans for commercial real estate, delayed for reasons beyond the control of promoters, by another one year without downgrading the asset classification. The decision is in line with treatment accorded to other project loans for non-infrastructure sector. This would also complement the initiatives taken by the Government of India in the real estate sector, the central bank said. The detailed instructions will be issued shortly, the apex bank said.