Govt Takes Stock Of Crisis-Hit NBFCs

Financial Stability and Development Council (FSDC) headed by Finance Minister Nirmala Sitharaman on Thursday reviewed the problems confronting the financial sector especially with reference to the crisis-ridden nonbanking financial companies (NBFCs) segment.

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The issue of strengthening the cybersecurity framework of the financial sector was also discussed at the meeting apart from the overall macroeconomic picture in the wake of the economic slowdown.

RBI Governor Shaktikanta Das told journalists after the meeting that the current status of the NBFCs was discussed. ``Even today, we have a large number of NBFCs which are well-functioning, which are able to access funds from the market which are able to access loans from the banks, and in fact, some of them have got overseas funding also,’’ he said.