Five proposals involving an amount of ₹ 3090 crore sanctioned; 35 more applications under process

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..... Five proposals involving an amount of ₹ 3090 crore sanctioned; 35 more applications under process - News and Press Release Dated:- 25-7-2020 - News - The Special Liquidity Scheme of ₹ 30,000 crore for NBFCs and HFCs is being implemented w.e.f. 1 st July, 2020 as a follow up of one of the announcements under Aatma Nirbhar Bharat package made by the Union Minister for Finance .....

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..... Corporate Affairs Smt. Nirmala Sitharaman on 13 th May, 2020. The Scheme has been launched to improve the liquidity position of NBFCs/HFCs through a Special Purpose Vehicle (SPV) to avoid any potential systemic risks to the financial sector. The Scheme has received a very positive response. As on 23 rd July, 2020, five (5) proposals involving an amount of ₹ 3090 crore ha .....

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..... ve already been sanctioned. Further, 35 more applications have been received seeking financing upto ₹ 13776 crore, which are under process. The Scheme is being implemented by SLS Trust, the SPV set up by SBI Capital Markets Limited (SBICAP). Any NBFC including Microfinance Institutions registered with RBI under the Reserve Bank of India Act, 1934 (excluding those registered as Core I .....

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..... nvestment Companies) and any HFC registered with the National Housing Bank (NHB) under the National Housing Bank Act, 1987 which is complying with certain specified conditions are eligible to raise funding from this facility. The Scheme will remain open for 3 months for making subscriptions by the Trust. The Scheme permits both primary and secondary market purchases of debt and seeks to address t .....

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..... he short-term liquidity issues of NBFCs/HFCs. Therefore, those market participants who are looking to exit their standard investments with a residual maturity of 90 days may also approach the SLS Trust. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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