INSUBCONTINENT EXCLUSIVE:
Cabinet also approved a pact with Japan to build high grade steel making capabilities in the country.NEW DELHI: Union cabinet has approved
easier lending rules for shadow banks, the government said on Wednesday, to help them get more access to funds.The government said it would
allow state-run banks to get partial guarantees against the purchase of BBB+ rated securities of these shadow banks in addition to existing
norms for AA or higher rated assets.The government had earlier this year announced it would partially guarantee state banks' purchase of as
much as Rs 1 lakh crore of performing assets of these non-bank financial companies.The cabinet also approved a pact with Japan to help build
high grade steel manufacturing capabilities in the country.
