Relief worth Rs 3,090 crore to NBFC, HFC sanctioned by Finance Minister Nirmala Sitharaman

Scheme has received a very positive response. As on July 23, 2020, five proposals involving an amount of Rs 3,090 crores have already been sanctioned. Further, 35 more applications have been received seeking financing upto Rs 13,776 crores, which are under process.

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The Central government on Friday said that the Special Liquidity Scheme of Rs 30,000 cr for Non-Banking Financial Companies (NBFCs) and Housing Finance Companies (HFCs) is being implemented from July 1 this year. It is a part of the announcements under Aatmanirbhar Bharat package made by Finance Minister Nirmala Sitharaman on May 13.

The government said that as on July 23, 2020, five proposals involving an amount of Rs 3,090 crore have already been sanctioned.

“Scheme has received a very positive response. As on July 23, 2020, five proposals involving an amount of Rs 3,090 crores have already been sanctioned. Further, 35 more applications have been received seeking financing upto Rs 13,776 crores, which are under process,” the government said.

“Scheme has been launched to improve liquidity position of NBFCs/HFCs through a Special Purpose Vehicle to avoid any potential systemic risks to the financial sector,” the government added.

The relief is expected to boost the sector and aid in withstanding the depression.

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