Monday 21 January 2019
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business-standard - 10 days ago

RBI governor meets NBFC representatives

RBI Governor Shaktikanta Das Friday met representatives of NBFCs to discuss liquidity and other issues facing the sector. A high-level delegation of Assocham met the RBI Governor here to highlight the issues on liquidity being faced by non-banking financial companies (NBFCs) and housing finance companies (HFCs), the industry chamber said in a statement. The industry chamber demanded permitting systematically important NBFCs to accept public deposits. It also made a case for reducing minimum holding period to three months for loans having maturity of 2-5 years and changing MUDRA norms for refinancing NBFCs, among other demands. The NBFC sector has been under a cloud since infrastructure-focused lender IL FS started defaulting on loans in late August. The lender owes over Rs 55,000 crore to banks out of its over Rs 91,000 crore of group level debt.

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