RBI governor Shaktikanta Das meets NBFC representatives1 min read . Updated: 11 Jan 2019, 11:08 PM IST
The industry chamber demanded permitting systematically important NBFCs to accept public deposits
New Delhi: 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 ₹ 55,000 crore to banks out of its over ₹ 91,000 crore of group level debt.
(This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed)