Imminent crisis in NBFC sector: Corporate Affairs Secretary Injeti Srinivas
Updated : May 13, 2019 07:13 AM IST
Corporate affairs secretary Injeti Srinivas said the NBFC sector is facing issues of credit squeeze, over-leveraging and misadventures by some large entities.
Amid instances of non-performing assets (NPAs) being linked to external factors, Srinivas noted that it would not be a convincing explanation.
Earlier this month, former Prime Minister Manmohan Singh said the banking sector is 'under severe stress' and the way out of 'this mess' is to reverse some 'gross distortions', work closely with the RBI, re-start the process of credit delivery and ensure sufficient liquidity and cash in circulation.
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