Non-Banking Financial Company
- 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.
- Special Purpose Vehicle (SPV): A SPV would be set up to manage a Stressed Asset Fund (SAF) of the NBFCs/ HFCs that will issue ....
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