Comments
The Finance Industry Development Council (FIDC), a representative body for asset-financing NBFCs, has hailed budget announcement to review the eligibility criteria and norms for refinancing of NBFCs by MUDRA.
This will give big impetus to the growth in MUDRA loans as they are a perfect fit for the business model of NBFCs, Raman Aggarwal, Chairman, FIDC told BusinessLine .
This will cater to the long standing demand of NBFCs, especially small and medium NBFCs to have a refinancing window, he said.
"We had raised this issue in the pre-budget meeting with Finance Minister in December", Aggarwal said.Finance Minister Arun Jaitley had in his budget speech on Thursday said that refinancing policy and eligibility criteria set by MUDRA will be reviewed for better refinancing of NBFCs.
He highlighted that non banking finance companies (NBFCs) had stepped up financing of MSMEs after demonetisation and that NBFCs can be very powerful vehicle for delivering loans under MUDRA.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.