INSUBCONTINENT EXCLUSIVE:
There are liquidity concerns following default in repayment of loans by diversified ILFS group.NEW DELHI: Seeking to calm the nerves of
worried investors, Finance Minister Arun Jaitley said Monday that the government would take all measures to ensure adequate liquidity for
non-banking financial companies (NBFCs) and mutual funds
The minister's remarks came in the wake of stock markets witnessing sudden and stiff fall in intra-day trade on Friday over concerns of
liquidity crisis being faced by some of the NBFCs."The government will take all measures to ensure that adequate liquidity is
maintained/provided to the NBFCs, the mutual funds and the SMEs," Jaitley tweeted ahead of the opening of stock markets.The Reserve Bank of
India (RBI) and market regulator Sebi said on Sunday that they were closely monitoring the developments in the financial sector and were
ready to take "appropriate actions" to calm the jittery investors.There are liquidity concerns following default in repayment of loans by
Another housing finance company, DHFL, too is reportedly facing liquidity crisis.(Except for the headline, this story has not been edited by
TheIndianSubcontinent staff and is published from a syndicated feed.)
