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No liquidity crisis in NBFC sector: SBI Chairman
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IANS | 15 Nov, 2018
Amid the ongoing tussle between the government and the Reserve Bank of
India (RBI) on liquidity issue, State Bank of India (SBI) Chairman
Rajnish Kumar on Thursday said there was no liquidity crunch for the
non-banking finance companies (NBFCs).
"There is no liquidity
crisis (in the NBFC sector). I think all of them (NBFCs) have been able
to rollover and meet their commitments," Kumar said on the sidelines of
25th World Congress organised by the World Savings and Retail Banking
Institute, SBI and rural bank Nabard.
Replying to queries on
liquidity concerns, triggered by payment defaults by the Infrastructure
Leasing and Financial Services (IL&FS), Kumar said the NBFCs have
managed to roll over their debts that were scheduled to mature in the
near future into new debts.
Nabard Chairman Harsh Kumar Bhanwala
said the liquidity crisis may be an issue with some specific NBFCs due
to the mismatch in their assets and liabilities but is not a general
concern.
"Issues arose on account of some of entities (NBFCs)
which had borrowed short and created long assets. So, it may be a
specific problem. It does not seem to be a systemic problem," Bhanwala
said, adding that banks including Nabard were helping the NBFCs.
Nabard has lent Rs 15,000 crore to the NBFCs, he said.
The
liquidity concern has gripped the government which fears the crunch in
NBFC may spill over to other sectors and wants RBI to address the issue
in its forthcoming board meeting on Monday. However, the central bank
has maintained that it does not see any liquidity crisis.
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Customs Exchange Rates |
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US Dollar
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