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20.05 - 16:10
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NBFCs seek funding support for MSME lending
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MUMBAI : Non-banking finance companies (NBFCs) have asked government to provide a sovereign credit guarantee to banks undertaking an additional exposure to finance companies, in addition to reduced interest rates for those NBFCs on-lending to priority sector assets.
The Finance Industry Development Council (FIDC), a representative body of NBFCs, has written a letter to the Finance Minister with suggestions to provide funding support to those NBFCs which lend to micro, small and medium companies. “The Govt.
of India may provide sovereign guarantee to the banks for their additional exposure on NBFCs, so long as it is lent to the deserving segments comprising MSMEs/farmers/affordable housing segment etc., so that the banks feel comfortable
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