New Delhi: Finance Minister Nirmala Sitharaman met private sector banks, non-banking finance companies (NBFCs) and housing finance companies on Thursday, sources said. At the meeting, a number of issues were taken up for discussion like liquidity, rate cut, credit disbursal, the sources added.
The meeting comes as many NBFCs like IL&FS, DHFL and Altico have defaulted on interest payment availed from the banks, causing a credit crunch in the sector. Many banks have tightened the noose around credit flow, fearing large scale defaults on existing loans. The Finance Minister has announced a slew of measures in the past few weeks to rejuvenate the economy.
Here are highlights from the meetings: