RBI governor meets NBFC representatives

Updated: Fri, Jan 11, 2019
11:00 pm
PTI
RELATED NEWS
FinMin releases Rs 9,871 cr as revenue deficit grant to 17 states FinMin releases Rs 9,871 cr as revenue deficit grant to 17 states
Monetary Policy announcements exhibit continuity and stability - Expert Ajay Bagga tells Anil Singhvi Monetary Policy announcements exhibit continuity and stability - Expert Ajay Bagga tells Anil Singhvi
RBI Monetary Policy Review: Shaktikanta Das led panel keeps policy rates unchanged RBI Monetary Policy Review: Shaktikanta Das led panel keeps policy rates unchanged
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details

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.

 

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.