Conclusion My final comment on house prices is that what we have seen - a very high rate of increase in residential property prices and excessive lending for investment properties over the past year or so was a problem of coping with success.
State of the art primary issuance process with electronic bidding and straight through processing capabilities, an efficient, completely dematerialized depository system within the Central Bank, Delivery-versusPayment (DvP) mode of settlement, Real Time Gross Settlement (RTGS), electronic trading platform (Negotiated Dealing Systems – Order Matching) (NDS-OM) and a separate Central Counter Party (CCP) in the Clearing Corporation of India Ltd (CCIL) for guaranteed settlement are among the steps that were taken by the Reserve Bank over the years towards this end.