Non-banking fin Cos seek continued liquidity support in upcoming Budget

Non-banking finance companies (NBFCs) expect the government to provide continued liquidity support by encouraging banks to lend more to the sector, setting up a permanent refinance window and relaxing external commercial borrowing norms in the upcoming Budget.

To alleviate the impact of COVID-19 on NBFC sector, the govt and RBI have announced various schemes such as the Partial Credit Guarantee Scheme (PCGS), Targeted Long-Term Repo Operations (TLTRO) and Special Liquidity Scheme (SLS).

"This budget is important because it will be the first budget after the pandemic, which dragged the economy into contraction mode and has taken more than 1.5 lakh lives so far in India.

The government will present the Budget for fiscal 2021-22 on February 1, 2021. "The government and RBI took calculated measures which aided economic recovery. We expect similar policy momentum to prevail in the Union Budget FY22," IndoStar Capital's CEO and executive vice-chairman R Sridhar said.

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