RBI liquidity shot to give breathing space to borrowers, lenders, say NBFCs

Non-banking financial companies (NBFCs) on Friday said the RBI”s mega liquidity support will give a breathing space to many players and hoped that additional steps could be made for the sector badly hit like tourism and aviation due to coronavirus outbreak.

Siddhartha Mohanty, MD and CEO, LIC Housing Finance Ltd said the RBI move will ensure sufficient liquidity in the system at a time when anxious moments are around due to Covid 19 situation.

“Repo rate cut,  slashing of reverse repo rate and reduction in CRR are welcome measures.  We believe the announcement of allowing the lending institutions such as banks and housing finance companies to provide a 3-month moratorium gives borrowers and lenders breathing space to stabilize from the unexpected financial and psychological jolt out of this pandemic,” Mohanty said. Read More

Leave a Comment