RBI Governor To Meet MSME, NBFC Representatives Next Week

Govt superseded the board of IL&FS, and the debt-ridden company has started the process to monetise its assets.

RBI Governor Shaktikanta Das

(Photo: PTI)

Reserve Bank Governor Shaktikanta Das Wednesday, 2 January said he will meet representatives of Micro, Small & Medium Enterprises (MSME) and non-banking financial companies (NBFC) next week.

A day after the RBI announced a one-time loan restructuring scheme for the MSME sector, Das in a tweet said, “Will hold meetings with MSME associations and representatives of NBFCs next week.”

The RBI's board in its crucial meeting held on 19 November, 2018, had advised the central bank examine a scheme for the restructuring of stressed standard assets of MSME borrowers with aggregate credit facilities of up to Rs 25 crore, subject to such conditions as are necessary for ensuring financial stability.

The liquidity problem in the non-banking financial companies and housing finance companies came to the fore after series of loan defaults by IL&FS, one of the largest NBFCs in the country.

The government has superseded the board of IL&FS, and the debt-ridden company has already started the process to monetise its several assets.