RBI Deputy Governor says that measures taken have eased liquidity for Non-Banking Financial Companies, NBFCs

RBI Deputy Governor Viral Acharya today said that measures taken over the last two months have eased liquidity for Non-Banking Financial Companies, NBFCs.

Speaking to reporters in Mumbai, Mr Acharya said RBI is not required to extend help to the crisis-hit sector as a lender of last resort.

He said the sound health of the economy, where the credit growth is comfortably above the nominal GDP growth, make the RBI confident that such support will not be required.

Mr Acharya said the RBI has been watching developments on this front since August when the IL&FS crisis burst out. He said the apex bank is in touch with SEBI to understand potential redemptions.

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