Microfiance sector seeks RBI s additional support to combat COVID-19 second wave
SECTIONS
Last Updated: May 11, 2021, 08:14 PM IST
Share
Synopsis RBI timely intervention for the sector and its recent announcement of special long-term repo operations (SLTRO) of Rs 10,000 crore for Small Finance Banks and categorization of lending by SFBs to MFIs under Priority Sector Lending has been of immense help, Sa-Dhan executive director P Satish said.
Reuters
The microfinance industry has sought additional support, including an extension of the emergency credit line, from the Reserve Bank of India to combat the challenges arising out of the second COVID-19 wave. Sa-Dhan an association of the microfinance sector, in a letter to the RBI, asked for the Partial Credit Guarantee Scheme 3.0, emergency credit line, special liquidity facility in addition to the recently announced support measures by the central bank.
Rising cases of Covid to hit securitisation volume in near term: Crisil thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
NBFCs expect continued liquidity stimulus in Budget 2021
To mitigate the impact of COVID-19 on NBFC sector, the government and Reserve Bank of India (RBI) have announced various schemes such as the Partial Credit Guarantee Scheme (PCGS), Targeted Long-Term Repo Operations (TLTRO) and Special Liquidity Scheme (SLS)
PTI | January 21, 2021 | Updated 09:24 IST
Cyril Amarchand Mangaldas partner L Viswanathan said in the recent years, NBFCs that are important intermediaries of credit have faced concerns of liquidity, governance and solvency and it is hoped that the Budget will ease some of the pressures
Non-banking finance companies expect the government to provide continued liquidity support by encouraging banks to lend more to the sector, setting up a permanent refinance window and relaxing external commercial borrowing norms in the upcoming Budget. The government will present the Budget for fiscal 2021-22 on February 1, 2021.
To mitigate the impact of COVID-19 on NBFC sector, the government and Reserve Bank of India (RBI) have announced various schemes such as the Partial Credit Guarantee Scheme (PCGS), Targeted Long-Term Repo Operations (TLTRO) and Special Liquidity Scheme (SLS).
Read more about NBFCs seek continued liquidity support in upcoming Union Budget on Business Standard. Non-banking finance companies expect the government to provide continued liquidity support by encouraging banks to lend more to the sector