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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