Cabinet approvesl proposal to launch Special Liquidity Scheme for NBFCs & HFCs

Union Cabinet today given approval to the proposal of the Ministry of Finance to launch a new Special Liquidity Scheme for Non-Banking Financial Companies, NBFCs and Housing Finance Companies, HFCs to improve liquidity position of the NBFCs or HFCs. The direct financial implication for the Government is five crore rupees, which may be the equity contribution to the Special Purpose Vehicle, SPV. Beyond that, there is no financial implication for the Government until the Guarantee involved is invo...