"We are moving toward the cashless economy which is a sign of maturing economy. Big builders and organised players are already using bank channel and they would gain from this decision. The impact will be felt in the secondary market and the unorganised developers community where there were still cash dealing. "Terming it as a very good move, Puri said: "This decision will help institutionalise the real estate sector". A lot of money will get into the banking systes," CREDAI Chairman Irfan Razack told PTI.

Source: Economic Times November 08, 2016 17:51 UTC