I get the error message that:
MODEL_DIAGNOSTICS: The presence of a singularity problem typically indicates that there is one
MODEL_DIAGNOSTICS: redundant equation entered in the model block, while another non-redundant equation
MODEL_DIAGNOSTICS: is missing. The problem often derives from Walras Law.

as well as this:

MODEL_DIAGNOSTICS: The Jacobian of the static model is singular
MODEL_DIAGNOSTICS: there is 7 colinear relationships between the variables and the equations

I would really appreciate any help to solve the issue.

Write first the model of the real economy. Check there is no collinearity. Then add the financial relationships a few at the time. As soon as collinearity shows up, you know that the problem has to do with the last equations that you have added

now the steady state is computed. But I get the following error.
There are 16 eigenvalue(s) larger than 1 in modulus
for 19 forward-looking variable(s)

The rank condition ISN’T verified!

Warning: Problem in the model specification: some variables don’t appear as current.
Check whether this is desired.

In check_model (line 21)
In stoch_simul (line 92)
In Dec18vs2.driver (line 821)
In dynare (line 281)
Error using print_info
Blanchard & Kahn conditions are not satisfied: indeterminacy.