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[부동산] 정부가 HFC에 유동성을 제공하는 계획을 승인함: RBI
[INDIA REAL ESTATE NEWS] Good morning everyone I am Rumi Dhar from Kama Group.
Here I have important INDIA real estate news to share with you which is as mention under.

MUMBAI: The government has approved a scheme under which the eligible non-bank lenders
will be provided short-term liquidity through a special purpose vehicle (SPV) set up by the
SBICAP securities, a subsidiary of the State Bank of India, the RBI said on Wednesday.

Under the special liquidity scheme, the SPV will purchase the short-term papers from eligible
non-banking financial companies (NBFCs)/housing finance companies (HFCs), which will
utilise the proceeds under this scheme solely for the purpose of extinguishing existing
liabilities.

"The Government of India has approved a scheme to improve the liquidity position of
NBFCs/HFCs through a SPV to avoid any potential systemic risks to the financial sector," the
Reserve Bank said.

The instruments will be commercial papers (CPs) and non-convertible debentures (NCDs)
with a residual maturity of not more than three months and rated as investment grade, the
RBI said.

"The facility, however, will not be available for any paper issued after September 30, 2020
and the SPV would cease to make fresh purchases after September 30, 2020 and would
recover all dues by December 31, 2020," it added.

NBFCs -- including microfinance institutions, excluding those registered as core investment
companies -- and housing finance companies that are registered under the National Housing
Bank Act can avail the special liquidity scheme.

However, their net non-performing assets should not be more than 6 per cent as on March
31, 2019 and they should have made net profit in at least one of the last two preceding
financial years (2017-18 and 2018-19).

There are other conditions, like the entities should be rated investment grade by a SEBI
registered rating agency, it said.





https://realty.economictimes.indiatimes.com/news/allied-industries/government-approves-scheme-for-providing-liquidity-to-hfcs-rbi/76738535

KAMA GROUP
New Delhi
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