Will NBFC's Laugh All the Way to the Bank?| Perspective
The government has decided to provide PSBs a one-time, six-month partial credit guarantee, amounting to a total of Rs 1 lakh crore, for the first loss up to 10 per cent for the current financial year.
The government has finally stepped in to support the battered non-banking finance companies (NBFCs) with a Union budget proposal encouraging public sector banks (PSBs) to buy their pooled assets. It has decided to provide PSBs a one-time, six-month partial credit guarantee, amounting to a total of Rs 1 lakh crore, for the first loss up to 10 per cent for the current financial year.
