Gol approves Special liquidity scheme for NBFCS/HFCs

The Government of India has approved the Special liquidity scheme of Rs 30,000 crore for Non-Banking Financial Company (NBFCs)/ Housing Finance Companies (HFCs). The Special liquidity scheme has been launched with a prime objective of improving the liquidity position of NBFCs/HFCs via a Special Purpose Vehicle (SPV). Reserve Bank of India (RBI) will offer funds for the Scheme by subscribing to government guaranteed special securities issued by the Trust. An unconditional and irrevocable guarantee would be provided by the Government of India, to the special securities issued by the Trust.