RBI bids for Air India’s Nariman Point tower

The Reserve Bank of India (RBI) has tossed its hat in the ring for the taking over of Air India’s iconic tower at Nariman Point in Mumbai. The central bank is learnt to have offered 10 years’ lease rental as advance payment according to a top reliable source. “The RBI wants to take the whole building and is willing to give lease rentals for 10 years together as advance payment upfront,” he said. The national carrier had in December floated a tender to sell its 23-storey tower as part of a larger asset-monetisation plan and allowed only government entities to participate in the bidding for acquiring leasehold rights on “as is, where is” basis.