The Reserve Bank of India on Wednesday laid down the eligibility criteria for non-bank financiers and mortgage lenders to utilize a special liquidity scheme that was approved by the Union cabinet in May. The funds thus received from the sale of securities would be used by the SPV to buy short-term investment-grade papers from eligible NBFCs and HFCs, providing them …
Vadodara Smart City Development, a Special Purpose Vehicle of the Vadodara Municipal Corporation, withdrew Rs 265 crore in the nick of time. The central bank Thursday restricted withdrawals from Yes Bank to Rs 50,000 per depositor due to the private lender's precarious financial situation. Sudhir Patel, chief executive officer of the SPV and deputy municipal commissioner of the VMC, said …
