The Reserve Bank of India (RBI) held a review meeting on Monday on liquidity and credit supply in the NBFC sector. The meeting was chaired by RBI Governor Shaktikanta Das himself. He discussed previously announced relief measures to deal with the economic impact of the Covid-19 outbreak.
In fact, RBI Governor Shaktikanta Das held meetings with the representatives of NBFCs and mutual funds through video conferences in two separate sessions. He took an update on the liquidity problem regarding mutual funds. Asked the representatives of mutual funds how much the liquidity window available by RBI is benefiting.
“The governor acknowledged the important role of NBFCs in credit supply, and the importance of mutual funds in financial intermediation,” RBI said in a statement.
During the meeting, RBI discussed with the NBFC and MFI the strategy of lockdown of credit supply including working capital to MSMEs, traders and consumers in semi-urban, rural and urban areas.