Earlier this month, RBI announced three major steps to encourage banks to lend more to liquidity starved NBFCs.
NBFCs, including HFCs, came under stress following series of defaults by group companies of IL&FS in September last year.
ECBs with a minimum average maturity period of 10 years can now be used for working capital purposes and general corporate purposes.
RBI was closely monitoring top 50 NBFCs, and had a good understanding of cash flows of these firms, said Shaktikanta Das.
He further said the system has sufficient liquidity and the Budget for 2019-20 has made provision for shadow banking sector.
As on June 23, 2019, 9,643 NBFCs were registered with RBI.
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