IL&FS crisis: RBI allows NBFCs quicker turnaround time for loans

  A Reserve Bank of India (RBI) logo is seen at the gate of its office in New Delhi:

In order to encourage non--banking financial companies (NBFCs) to securities more of their assets and improve liquidity, the Reserve Bank of India (RBI) on Thursday halved the minimum holding period of their loans of above five years. 

According to the revised norms, loans of original maturity of more then five years can be securitised after receiving the repayment of six-month instalments or two quarterly instaments.

Earlier the norm was to ensure to ensure that the loans are serviced for 12 monthly instalments or quartely installments.

''This means that the RBI is trying to make life easier for NBFCs, but is urging them to be more responsible.''

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