NBFC crisis not a solvency issue, says industry body
5 years, 6 months ago

NBFC crisis not a solvency issue, says industry body

Live Mint  

Finance Industry Development Council, the industry body for non-banking financial companies, said the current liquidity crisis is not a solvency issue, but is more of a growth-related problem. At a press conference held on Tuesday, FIDC said that while funds were available at a higher cost, there was a need for a special liquidity window through banking channels, which will provide growth capital for NBFCs on a sustainable basis. The industry body has also sought other short-term measures such as allowing refinance for all small and medium NBFCs from the Pradhan Mantri Mudra Yojana. This is not the first time that the industry body has raised the demand for a special liquidity window to help NBFCs tide over the crisis following the default by IL&FS.

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History of this topic

NBFCs Face Funding Strains, Slower Growth Ahead
4 months, 2 weeks ago

NBFCs Face Funding Strains, Slower Growth Ahead

Deccan Chronicle  

Mumbai: Non-banking financial companies are likely to face funding challenges that could result in slower growth compared to the robust expansion seen in the last two fiscals according to rating agency ICRA Ltd. “The banking sector, a key lender to the NBFC segment, is expected to register an overall credit expansion of around 12 per cent in FY2025, resulting in …

NBFCs relying more on bank loans: RBI
1 year, 3 months ago

NBFCs relying more on bank loans: RBI

Live Mint  

Mumbai: Domestic non-banking financial companies, especially those in the upper-layer category, are increasingly relying on bank borrowings as their primary source of funding, according to an analysis in Reserve Bank of India ’s September bulletin. “During the assessment period, NBFCs’ reliance on banks increased steadily due to low interest environment and lag monetary policy transmission," the article said. Direct bank …

Concerns re-emerge on retail loans asset quality due to rising lockdowns: ICRA
3 years, 8 months ago

Concerns re-emerge on retail loans asset quality due to rising lockdowns: ICRA

Hindustan Times  

The rising Covid-19 cases has again raised concerns on asset quality of retail loans from non-banking financial companies and housing finance companies, according to investment information agency ICRA. Following the second wave of the pandemic, ICRA expects securitisation volumes to again get impacted in Q1 FY22 as NBFCs and HFCs will be more selective in fresh lending. However, said ICRA, …

NBFCs have an edge in banking licence race
4 years, 1 month ago

NBFCs have an edge in banking licence race

Live Mint  

Large non-bank lenders stand to gain the most from the Reserve Bank of India panel’s proposal to allow large companies and shadow lenders into banking services, experts said. More importantly, it would allow RBI to increase regulatory oversight over some of the large shadow lenders, particularly after the collapse of Infrastructure Leasing & Financial Services Ltd and Dewan Housing Finance …

NBFCs with Substantial Systemic Risks Must Be Subjected to Higher Degree of Regulation: RBI DG
4 years, 2 months ago

NBFCs with Substantial Systemic Risks Must Be Subjected to Higher Degree of Regulation: RBI DG

News 18  

Asserting the need to recalibrate regulations for shadow banking sector, Reserve Bank Deputy Governor M Rajeshwar Rao on Friday said NBFCs with significant externalities and which contribute substantially to systemic risks must be identified and subjected to a higher degree of regulation. "One can also argue that the design of prudential regulatory framework for such NBFCs can be comparable with …

FM Nirmala Sitharaman to Meet Heads of Banks, NBFCs on Loan Recast Today
4 years, 4 months ago

FM Nirmala Sitharaman to Meet Heads of Banks, NBFCs on Loan Recast Today

News 18  

Finance Minister Nirmala Sitharaman will hold a review meeting with heads of banks and NBFCs on Thursday for smooth and speedy implementation of the one-time debt recast for resolution of COVID-19 related stress in bank loans. Besides assessing the preparedness of banks on the debt recast, sources said, the meeting will also review the progress of various schemes announced under …

Amid churn, non-banks explore consolidation option
4 years, 5 months ago

Amid churn, non-banks explore consolidation option

Live Mint  

India’s non-bank lenders, staring at ₹1.51 trillion debt repayments due in the next six months, are rushing to raise fresh equity and pursuing mergers with bigger peers to avert defaults, as the coronavirus pandemic darkens the outlook for the sector that has struggled since the collapse of Infrastructure Leasing and Financial Services Ltd nearly two years ago. “In many instances, …

NBFCs will continue to face liquidity, asset quality risks: Fitch
4 years, 6 months ago

NBFCs will continue to face liquidity, asset quality risks: Fitch

Live Mint  

MUMBAI: India's non-bank financial companies will continue to face elevated liquidity and asset quality risks, even as economic activity picks up with the easing of the nationwide lockdown, according to global rating agency Fitch Ratings. Non-banks, facing a liquidity shortage ever since Infrastructure Leasing and Financial Services Ltd defaulted on its payment obligations, have been under renewed strain as banks …

The problem with the liquidity push
4 years, 7 months ago

The problem with the liquidity push

The Hindu  

The present government’s much-hyped, post-COVID-19 relief and recovery package has disappointed many. In its effort to tote up a 10% of GDP relief-cum-stimulus figure, the government has relied heavily on measures aimed at pushing credit to banks, non-banking financial companies and businesses big and small, which are expected to use borrowed funds to lend to others, make payments falling due, …

Economic package: Successful implementation of support measures for NBFI will be key, says Fitch Ratings
4 years, 7 months ago

Economic package: Successful implementation of support measures for NBFI will be key, says Fitch Ratings

Firstpost  

Fitch Ratings on Wednesday said support measures announced by the government for non-banking finance companies seek to ease borrower strain and boost funding conditions for NBFIs, but successful implementation will be the key New Delhi: Fitch Ratings on Wednesday said support measures announced by the government for non-banking finance companies seek to ease borrower strain and boost funding conditions for …

Coronavirus impact: NBFCs urge RBI to allow draw-down from reserves for provisioning
4 years, 7 months ago

Coronavirus impact: NBFCs urge RBI to allow draw-down from reserves for provisioning

Firstpost  

Non-banking financial companies on Friday requested the Reserve Bank of India to allow them to draw-down from their reserves for making additional provision for expected losses due to COVID-19 pandemic Mumbai: Non-banking financial companies on Friday requested the Reserve Bank of India to allow them to draw-down from their reserves for making additional provision for expected losses due to COVID-19 …

Coronavirus Outbreak: SIDBI to provide 90-day term loans to banks, NBFCs, MFIs for onward lending to MSMEs
4 years, 8 months ago

Coronavirus Outbreak: SIDBI to provide 90-day term loans to banks, NBFCs, MFIs for onward lending to MSMEs

Firstpost  

SIDBI will offer liquidity to banks, NBFCs and MFIs as term loans for a tenor of 90 days and for a maximum period of one year, Mumbai: Small Industries Development Bank of India on Thursday said it will provide special liquidity to banks, non-banking financial companies and microfinance institutions for on-lending to micro, small and medium enterprises that are affected …

RBI measures for NBFCs may not boost credit flow to the broader economy: Moody's
4 years, 8 months ago

RBI measures for NBFCs may not boost credit flow to the broader economy: Moody's

India TV News  

The Reserve Bank of India's measures to help facilitate funds to the NBFC sector is unlikely to boost the credit flow to the broader economy as NBFCs would shore up their own liquidity rather than on-lending to customers, Moody's Investors Service said on Sunday. Moody's Investors Service Vice-President Alka Anbarasu said the measures will soften the near-term credit negative impact …

RBI ensures liquidity support to NBFCs
4 years, 8 months ago

RBI ensures liquidity support to NBFCs

The Hindu  

The Reserve Bank of India has announced a host of measures to provide liquidity support to the non-banking finance companies, apart from giving them certain benefits for loans extended to the commercial real estate sector. To begin with, the banking regulator said banks to have to invest the funds availed under targeted long term repo operations, in investment grade bonds, …

Moratorium on repayment puts NBFCs in a spot
4 years, 8 months ago

Moratorium on repayment puts NBFCs in a spot

The Hindu  

Non-banking financial companies may face a tough time following the Reserve Bank of India’s recent directive on providing a moratorium on repayment. “With collections being minimal and the moratorium only for their borrowers, raising fresh funds is critical, especially because NBFCs, unlike banks, do not have access to systemic sources of liquidity and depend significantly on wholesale funding,” it said. …

Credit guarantee on NBFC, HFC debt
4 years, 11 months ago

Credit guarantee on NBFC, HFC debt

Deccan Chronicle  

Mumbai: The government has proposed to provide credit guarantee for the liquidity-struck shadow banking sector. To address the liquidity constraints of NBFCs and housing finance companies, the government proposed to set up a partial credit guarantee scheme for the sector after the Union Budget 2019-20. Karthik Srinivasan, senior vice president and group head, financial sector ratings, Icra said, “Inclusion of …

Opinion | Budget 2020 wish list: More freedom for NBFCs to revive demand
4 years, 11 months ago

Opinion | Budget 2020 wish list: More freedom for NBFCs to revive demand

Live Mint  

Non-banking finance companies play an important role in providing credit access to businesses and individuals across the spectrum. The increase in the ₹2 lakh tax rebate on housing loan interest rates under Section 24 of the Income Tax Act, will encourage demand for housing, especially in the affordable and mid-segment categories. Allow strong NBFCs/ HFCs to access public deposits: Large …

Putting out spreading fires: Raghuram Rajan's cure for real estate, NBFC sectors
5 years, 1 month ago

Putting out spreading fires: Raghuram Rajan's cure for real estate, NBFC sectors

India Today  

Noted economist Raghuram Rajan has laid out a detailed plan for the recovery of the stressed real estate sector and non-banking financial companies, which are its key lenders. Rajan, a former Reserve Bank of India governor, said both real estate sector and NBFCs are in deep trouble and pouring in fresh capital may not help in any improvement. "Instead of …

Is it right solution to bring NBFCs under IBC, Ashok Leyland posts weak Q2 results; read this and more on Moneycontrol Pro
5 years, 1 month ago

Is it right solution to bring NBFCs under IBC, Ashok Leyland posts weak Q2 results; read this and more on Moneycontrol Pro

Firstpost  

Despite adequate liquidity in the banking system, many NBFCs are finding it difficult to raise money because no one trusts their balance sheets. Moneycontrol Pro offers curated markets data, independent equity analysis, insights into investment styles and exclusive trading recommendations. As resolution proves elusive for defaulting NBFCs such as Dewan Housing Finance Ltd the government is considering allowing some financial …

NBFCs, HFCs may be brought under bankruptcy code
5 years, 2 months ago

NBFCs, HFCs may be brought under bankruptcy code

Live Mint  

The government is examining the feasibility of bringing certain types of non-bank lenders and housing financiers under the Insolvency and Bankruptcy Code to enable rescue of distressed financial institutions under a court-monitored process. The move will help distressed Dewan Housing Finance Corp. Ltd. to tie up a resolution plan under the IBC as potential investors may prefer the protection of …

NBFCs not enthused with revised ALM norms: Kotak
5 years, 2 months ago

NBFCs not enthused with revised ALM norms: Kotak

Live Mint  

The RBI norms on liquidity and asset quality of non-banking financial companies will offer some comfort and cushion to the market, but concern over the wholesale segment's asset quality remains a challenge for debt market players, broking firm Kotak said on Tuesday. The Reserve Bank had on Monday issued final guidelines on Asset Liability Management and Liquidity Coverage Ratio framework …

RBI asks NBFCs to adopt better tools to detect liquidity strains early
5 years, 2 months ago

RBI asks NBFCs to adopt better tools to detect liquidity strains early

Live Mint  

Reserve Bank on Monday asked the already fund-starved NBFCs to adopt better risk monitoring tools that capture the strains early on and also to maintain a liquidity buffer as per the mandated liquidity coverage ratio. It also asked NBFCs to segregate into granular buckets the 1-30-day time bucket in the statement of structural liquidity to 1-7, 8-14, and 15-30 days …

Banks to face capital shortfall of Rs 3.5 lakh cr in event of systemic crisis in NBFC sector: Fitch Ratings
5 years, 2 months ago

Banks to face capital shortfall of Rs 3.5 lakh cr in event of systemic crisis in NBFC sector: Fitch Ratings

Firstpost  

New Delhi: Banks would face a capital shortfall of about $50 billion in the event of a systemic crisis in the non-banking financial company sector, according to a study by global rating agency Fitch. “The credit profiles of the state-owned banks would come under significant pressure, and the weakest – including those with Viability Ratings in the ‘b’ range – …

Finance Minister Nirmala Sitharaman to meet CEOs of PSU banks today; to review fund flow to NBFC, MSME sectors
5 years, 2 months ago

Finance Minister Nirmala Sitharaman to meet CEOs of PSU banks today; to review fund flow to NBFC, MSME sectors

Firstpost  

NBFCs, including housing finance companies, came under stress following a series of defaults by the group companies of IL&FS in September last year New Delhi: Finance Minister Nirmala Sitharaman will hold a review meeting with CEOs of public sector banks on 14 October to discuss various issues, including progress on credit offtake, as part of efforts to prop up the …

RBI not looking at liquidity facility for NBFCs: Dy Guv Vishwanathan
5 years, 3 months ago

RBI not looking at liquidity facility for NBFCs: Dy Guv Vishwanathan

Live Mint  

Mumbai: Reserve Bank of India has ruled out any special liquidity facility for Non Banking Financial Institutions saying there is enough in the system to meet their needs for borrowings and it is for the lenders to take a call on lending to the NBFCs. "Reserve Bank's position is that there is adequate liquidity in the system and it is …

Banks to hold public meets with NBFCs until 15 Oct in 400 districts: Sitharaman
5 years, 3 months ago

Banks to hold public meets with NBFCs until 15 Oct in 400 districts: Sitharaman

Live Mint  

New Delhi: To increase credit disbursement across the country ahead of the festive season, Finance Minister Nirmala Sitharaman has directed scheduled commercial banks and non-bank financial companies to reach out to new customers in 400 districts in two tranches from now and 15 October. Addressing a press conference after meeting the heads of commercial banks, Sitharaman said in the first …

The NBFC factor in the slowdown of the automobile sector
5 years, 4 months ago

The NBFC factor in the slowdown of the automobile sector

The Hindu  

T he crisis in the non-banking financial companies is perhaps among the most important factors impacting the automobile sector. Beginning with the IL&FS Financial Services debacle in 2018, and more recently the solvency issues of four large NBFCs, this wing of the financial sector has taken a massive beating and the ramifications are being felt in three major sectors—infrastructure, real …

Liquidity taps opened for banks and NBFCs
5 years, 4 months ago

Liquidity taps opened for banks and NBFCs

Hindustan Times  

The Centre will front-load its ₹70,000-crore capital infusion into public sector banks to nudge additional lending of ₹5 trillion, said finance minister Nirmala Sitharaman. Banks, said Sitharaman, have also decided to link their lending rates with the Reserve Bank of India’s repo rate, leading to lower EMIs for housing, auto and other retail loans. As part of the Rs1 trillion …

Liquidity taps opened for banks and NBFCs
5 years, 4 months ago

Liquidity taps opened for banks and NBFCs

Live Mint  

The Centre will front-load its ₹70,000-crore capital infusion into public sector banks to nudge additional lending of ₹5 trillion, said finance minister Nirmala Sitharaman. Banks, said Sitharaman, have also decided to link their lending rates with the Reserve Bank of India’s repo rate, leading to lower EMIs for housing, auto and other retail loans. As part of the ₹1 trillion …

RBI governor Shaktikanta Das rules out asset quality review of NBFCs for now
5 years, 4 months ago

RBI governor Shaktikanta Das rules out asset quality review of NBFCs for now

Firstpost  

Mumbai: Even as he reiterated the regulatory resolve to not let any large NBFC fail, Reserve Bank governor Shaktikanta Das Monday ruled out ordering an asset quality review of the systematically important shadow banks for now. Addressing the press on the sidelines of the national banking conference being organised by the industry lobby Ficci, Das ruled out ordering an asset …

Central bank opens liquidity tap to help stressed shadow banks
5 years, 5 months ago

Central bank opens liquidity tap to help stressed shadow banks

Live Mint  

The Reserve Bank of India on Wednesday announced two key measures to help stressed non-banking financial companies raise funds from banks. “Under the revised guidelines on large exposure framework that came into effect from 1 April 2019, a bank’s exposure to a single NBFC is restricted to 15% of its Tier I capital, while for entities in the other sectors, …

NBFC crisis: Liquidity steps for non-banking finance companies too little, too short-term, says Fitch report
5 years, 5 months ago

NBFC crisis: Liquidity steps for non-banking finance companies too little, too short-term, says Fitch report

Firstpost  

Mumbai: The government measures to provide partial credit guarantee to public sector bank on their asset purchases from NBFCs can ease funding pressure only for the short-term, says a report. In the budget, the government had said for purchase of high-rated pooled assets of financially-sound NBFCs, amounting to Rs 1 trillion during the current financial year, it will provide a …

Guidelines for PSU banks to pick pooled assets of NBFCs likely this week
5 years, 5 months ago

Guidelines for PSU banks to pick pooled assets of NBFCs likely this week

Live Mint  

New Delhi: In a bid to deal with stress in NBFC sector, guidelines will be issued soon for state-owned banks to take over pooled assets of non-banking financial companies, a finance ministry official said. To address the stress in the sector, Finance minister Nirmala Sitharaman in the Budget proposed that public sector banks would purchase high-rated pooled assets of financially …

Opinion | The budget’s NBFC lifeline needs rework
5 years, 6 months ago

Opinion | The budget’s NBFC lifeline needs rework

Live Mint  

After months of dithering and allowing the financial sector, especially non-banking financial companies, to thrash about in deep waters, the government has finally thrown a lifeline to the industry. The logjam acquired crisis proportions when many NBFCs were forced to sell profitable assets to generate cash to repay maturing debts. Initial appeals to both the Reserve Bank of India and …

Govt, RBI monitoring NBFC crisis : FM Nirmala Sitharaman
5 years, 6 months ago

Govt, RBI monitoring NBFC crisis : FM Nirmala Sitharaman

Hindustan Times  

Non-banking financial companies have put the worst of the crisis they are confronting behind them, but the government and the Reserve Bank of India will maintain a close watch on the sector on its way to full recovery, finance minister Nirmala Sitharaman said on Saturday, a day after unveiling a slew of measures to assist the process of healing. The …

NBFC crisis has peaked but not ended yet: FM Nirmala Sitharaman
5 years, 6 months ago

NBFC crisis has peaked but not ended yet: FM Nirmala Sitharaman

India TV News  

Finance Minister Nirmala Sitharaman on Saturday said the non-banking finance company sector crisis has plateaued but not ended yet and her ministry will monitor the emerging situation with the RBI, a day after she announced a slew of measures to address the lending concerns of the NBFCs. In the 2019-20 Budget, liquidity tap was opened for NBFCs, with the government …

NBFC Sector Budget 2019: Govt to provide one-time partial credit guarantee to PSBs to buy financially sound NBFC assets
5 years, 6 months ago

NBFC Sector Budget 2019: Govt to provide one-time partial credit guarantee to PSBs to buy financially sound NBFC assets

Firstpost  

The NBFCs are playing an important role in sustaining consumption demand as well as capital formation in small and medium industrial segment, she said in her maiden Budget Speech in Parliament. New Delhi: Non-banking financial companies play an important role in capital formation and the government will provide a one-time partial credit guarantee to PSBs to buy high-rated pooled assets …

Budget 2019: Here's How Crisis-Hit NBFCs Want FM Nirmala Sitharaman To Address Liquidity Crunch
5 years, 6 months ago

Budget 2019: Here's How Crisis-Hit NBFCs Want FM Nirmala Sitharaman To Address Liquidity Crunch

ABP News  

Budget 2019: Newly appointed Finance Minister Nirmala Sitharaman is all set to table her maiden Union Budget on July 5 and one of the major issue she needs to address is the ongoing crisis in the Non-Banking Financial Company sector. According to news agency PTI, FIDC said that NBFCs should be allowed to avail of refinance facility under the Pradhan …

To solve the liquidity crisis, RBI should make banks lend more to NBFCs
5 years, 6 months ago

To solve the liquidity crisis, RBI should make banks lend more to NBFCs

Hindustan Times  

In the immediate liquidity crisis, good Non-Bank Financial Companies should be able to raise debt capital, but this is not always happening. If the real estate company is itself under financial stress, and does not have the money to complete its project, the assets on the balance sheet of the NBFC start looking bad. Suppose the real estate company needed …

Towards a meltdown
5 years, 6 months ago

Towards a meltdown

The Hindu  

INDIA'S ’s financial sector is in the midst of a second crisis, even as the first in the form of a humongous mass of non-performing assets on the books of commercial banks remains unresolved. To others, IL&FS featured only as a company in which a set of high-profile executives and their collaborators, who overborrowed through a complex web of companies …

Making sense of the NBFC puzzle box
5 years, 6 months ago

Making sense of the NBFC puzzle box

Live Mint  

Mumbai: Non-banking financial companies have been in the news since September last year for all the wrong reasons. An RBI research report showed that 99.7% of shadow banking in India makes long-term loans against short-term funding, primarily carried out by NBFCs and housing finance companies. Amit Bapna, RCAP’s group chief financial officer, told Mint that following the IL&FS crisis, funding …

New liquidity requirement for non-banks is credit positive, says Moody’s
5 years, 7 months ago

New liquidity requirement for non-banks is credit positive, says Moody’s

Live Mint  

Mumbai: The Reserve Bank of India guidelines that said liquidity coverage ratio will be applicable to non-banking financial companies from 1 April, 2020 is credit positive for asset-backed securities deals, said a note by Moody's Investors Service on Tuesday. This is credit positive for Indian asset-backed securities deals issued by NBFCs because it will reduce the risk that NBFCs would …

RBI proposes new liquidity norms for NBFCs. How it may impact you
5 years, 7 months ago

RBI proposes new liquidity norms for NBFCs. How it may impact you

Live Mint  

The Reserve Bank of India has issued draft guidelines on liquidity management for the non banking finance companies and proposed a liquidity coverage ratio for large NBFCs covering all deposit-taking NBFCs and non-deposit taking NBFCs with an asset size of ₹5,000 crore and above. Here is a look at what it means and how it will impact you: THE NEW …

RBI draft liquidity norms may put pressure on NBFCs margins and returns over medium term: Analysts
5 years, 7 months ago

RBI draft liquidity norms may put pressure on NBFCs margins and returns over medium term: Analysts

Firstpost  

Last week, the RBI released a draft circular on Liquidity Risk Management Framework for NBFCs with an asset size of Rs 100 crore Mumbai: The draft liquidity norms for the non-banking financial companies announced by the Reserve Bank will put pressure on their margins and returns over the medium term, analysts say. The draft norms said all non-deposit taking NBFCs …

RBI to ensure NBFC liquidity issues do not become systemic; to strengthen risk management systems
5 years, 7 months ago

RBI to ensure NBFC liquidity issues do not become systemic; to strengthen risk management systems

Firstpost  

The RBI board has decided to handle liquidity problems in the NBFC sector in a “nuanced” manner by improving liquidity and tightening regulatory norms without sending a “panic” signal to the market Mumbai/New Delhi: The Reserve Bank of India is concerned about liquidity issues facing some Indian non-banking finance companies such as mortgage or auto lenders and wants to ensure …

IL&FS crisis' adverse impact on NBFC growth may lead to consolidation in sector: Fitch Ratings
5 years, 7 months ago

IL&FS crisis' adverse impact on NBFC growth may lead to consolidation in sector: Fitch Ratings

Firstpost  

New Delhi: The debt crisis in IL&FS has adversely impacted growth of the NBFC sector in India and might lead to its consolidation, said a report by Fitch Ratings on shadow banking. The Indian shadow banking industry’s rapid growth and reliance on short-term funding sources “bubbled over” in 2018, most evident by the default of Infrastructure Leasing and Financial Services …

Federal Bank to avoid lending to lower-rated NBFCs, says Shyam Srinivasan
5 years, 7 months ago

Federal Bank to avoid lending to lower-rated NBFCs, says Shyam Srinivasan

Live Mint  

Mumbai: Kerala-based private sector lender, Federal Bank is now more cautious than ever on lending to the non-banking financial companies. Following the defaults and liquidity crunch in the sector, the bank has decided not to renew credit lines to low-rated NBFCs, managing director and chief executive officer Shyam Srinivasan said in an interview. To be sure, the bank’s total risk-weighted …

After IL&FS fiasco, there is ’imminent crisis’ in NBFC sector: Corp Affairs Secy
5 years, 7 months ago

After IL&FS fiasco, there is ’imminent crisis’ in NBFC sector: Corp Affairs Secy

Live Mint  

New Delhi: There is an 'imminent crisis' in the non-banking financial companies sector as misadventures by some large entities and credit squeeze present a perfect recipe for disaster, a senior government official has said. In an interview to PTI, Corporate Affairs Secretary Injeti Srinivas said the NBFC sector is facing issues of credit squeeze, over-leveraging and misadventures by some large …

Government has assured it will ease NBFC liquidity norms if re-elected, says IIFL founder Nirmal Jain
5 years, 8 months ago

Government has assured it will ease NBFC liquidity norms if re-elected, says IIFL founder Nirmal Jain

Live Mint  

The government has assured non-banking financial companies that if it retains power in the ongoing parliamentary elections, it will ease liquidity norms for the sector, said Nirmal Jain, founder and chairman, IIFL Holdings Ltd. Jain told reporters on Monday that this has been informally conveyed to them by the government. Jain also said that everyone is waiting for the election …

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