India city Mumbai covid-19 Government India city Mumbai

NBFCs confused as banks differ over term loan moratorium

Reading now: 879
www.livemint.com

MUMBAI: Non-banking finance companies (NBFCs) are in a fix as banks apply different rules to offer term loan moratorium under the relaxations announced by the Reserve Bank of India (RBI).

State Bank of India (SBI) has decided not to offer any moratorium to financial institutions but will provide them funding through the targeted long-term repo operations (TLTRO) window, where banks can invest in corporate bonds, commercial papers and non-convertible debentures (NCDs) issued by these institutions.

However, the rest of the industry is in a quandary whether to follow the country’s largest bank or the rules framed by industry body Indian Banks’ Association (IBA).

Read more on livemint.com
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA