Special Liquidity Scheme for NBFCs and HFCs
In a bid to help Non-Banking Financial Company (NBFCs) and Housing Finance Companies (HFCs) tide over the near-term cashflow crunch, the RBI, on 1st July, 2020, announced a special liquidity scheme for NBFCs/HFCs through a Special Purpose Vehicle (SPV).
- The Scheme will be administered by the Department of Financial Services (Ministry of Finance).
- The step has been taken as NBFCs, HFCs and Micro Finance Institutions (MFIs)with low credit rating require liquidity to do fresh lending to MSMEs and individuals.
Major Highlights
Special Purpose Vehicle (SPV)
- A SPV would be set up to manage a Stressed Asset Fund (SAF) of the NBFCs/ ....
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