Courtesy theprint.in
New Delhi: The government on Wednesday announced a Rs 45,000-crore stimulus package for the non-banking financial companies under Partial Credit Guarantee Scheme (PCGC).
Many NBFCs have a low credit rating, and hence, this liquidity infusion will improve their capital position.
Under the scheme, the government will act as guarantor and bear the first 20 per cent of the loss incurred by the distressed company, Finance Minister Nirmala Sitharaman said.
While many investors have distanced themselves from NBFCs, these non-banking companies are at the helm of banks to finance them. Therefore, another package of Rs 30,000 crore by the government will not put pressure on banks.
“Investments can be made in investment-grade debt securities of NBFCs, housing finance companies and microfinance institutions. These investments will be fully guaranteed by the government,” the finance minister said.
Also Read: Atmanirbhar Bharat: FM Announces Rs 3 Lakh Crore Bailout Package For MSMEs
Bhubaneswar: The opening date of Bhubaneswar and Cuttack Bali Jatras this year face a clash…
Bhubaneswar: A recent study has warned that humans and animals will be wiped out from…
Mumbai: Ever since ‘Pushpa 2: The Rule’ went on floors, speculation was rife that ‘Stree…
Kolkata: Sanjay Roy, the prime suspect in the brutal rape and murder of a Kolkata…
Bhubaneswar: Vigilance officials seized suspected ill-gotten money amounting to Rs 2.8 lakh from an official…
Baripada: A man was saved from drowning in a deep well due to timely rescue…
Mumbai: Actor Arjun Kapoor, who joined the third instalment of Rohit Shetty’s cop universe franchise…
New Delhi: Prime Minister Narendra Modi on Monday strongly condemned the “deliberate attack on a…