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RBI to help shadow banks refinance debt as default worries loom

Updated : November 02, 2018 10:05:38 IST

The RBI said banks could now provide partial credit enhancement to refinance bonds issued by NBFCs and housing finance companies (HFCs) with tenors of not less than three years. Until now, banks were not allowed to provide credit enhancement to NBFCs.
India's Finance Ministry reportedly said in a letter to the Ministry of Corporate Affairs that it feared significant default from large financing companies in the next six weeks if no liquidity support was provided to these firms.
RBI to help shadow banks refinance debt as default worries loom
Published : November 02, 2018 10:01 PM IST

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