RBI not in favour of special credit window for NBFCs
New Delhi: The Reserve Bank of India is not in favour of providing special credit window to the NBFC sector to tide over the liquidity crunch as the cash crunch phenomenon is not systemic, said sources. Industry players and government think-tank NITI Aayog made a case for giving special credit window for non-banking financial companies facing liquidity crunch following default by group of companies of IL&FS since September 2018. The sources also said the RBI board during the two-day meeting ended on Tuesday took stock of the NBFC sector and cash crunch faced by them. The central bank is keeping a tab on the liquidity position of these firms on a monthly basis and recently asked NBFCs with assets over ₹5,000 crore to appoint a chief risk officer.
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