The Central government on Friday said that the Special Liquidity Scheme of ₹30,000 cr for Non-Banking Financial Companies (NBFCs) and Housing Finance Companies (HFCs) is being implemented from July 1 this year as a follow up of one of the announcements under Aatmanirbhar Bharat package made by Finance Minister Nirmala Sitharaman on May 13.
The government said that as on July 23, 2020, five proposals involving an amount of ₹3,090 crore have already been sanctioned.
“Scheme has received a very positive response. As on July 23, 2020, five proposals involving an amount of ₹3,090 crores have already been sanctioned. Further, 35 more applications have been received seeking financing upto ₹13,776 crores, which are under process,” the government said.
“Scheme has been launched to improve liquidity position of NBFCs/HFCs through a Special Purpose Vehicle to avoid any potential systemic risks to the financial sector,” the government added.
With ANI inputs
This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.