News:
ePaper |
Front Page |
National |
Tamil Nadu |
Andhra Pradesh |
Karnataka |
Kerala |
New Delhi |
Other States |
International |
Opinion |
Business |
Sport |
Miscellaneous |
Engagements |
Advts:
Retail Plus |
Classifieds |
Jobs |
Obituary |
Business
Liquidity support for NBFCs
Special Correspondent
NEW DELHI: The Union Cabinet on Friday approved the framework for providing liquidity support up to Rs. 25,000 crore to the cash-starved non-deposit taking ‘systemically important non-banking finance companies’ to help them repay existing liabilities. As per the announcement while unveiling the second stimulus package to spur growth, the ‘Stressed Asset Stabilisation Fund’, set up for acquiring the stressed assets of IDBI, would function as a special purpose vehicle to provide money to the NBFCs. Briefing newspersons on the Cabinet decision, Home Minister P. Chidambaram said: “The SPV would issue government guaranteed securities, subject to a total amount of securities not exceeding Rs. 20,000 crore with an additional Rs. 5,000 crore, if needed. These securities would be purchased by [the] RBI and funds would be used by the SPV to acquire only investment grade commercial paper and NCDs of NBFCs.”
Printer friendly
page
Send this article to Friends by
E-Mail
Business
News:
ePaper |
Front Page |
National |
Tamil Nadu |
Andhra Pradesh |
Karnataka |
Kerala |
New Delhi |
Other States |
International |
Opinion |
Business |
Sport |
Miscellaneous |
Engagements |
Advts:
Retail Plus |
Classifieds |
Jobs |
Obituary |
Updates:
Breaking News |
|
