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Last Updated : Sep 24, 2018 04:00 PM IST | Source:

NBFC stocks continue to slide on fears of a liquidity crisis

Finance minister Arun Jaitey has said the government will take measures to provide the liquidity to NBFCs.

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Moneycontrol News 

Shares of non-banking financial institutions (NBFCs) slid after fears of a liquidity crisis.

Indiabulls Housing Finance dropped about 3.8 percent, while

LIC Housing Finance dropped about 2.8 percent.

Can Fin Homes, too, slid more than 2 percent and Muthoot Finance fell more than 4 percent.

Finance minister Arun Jaitley has said the government will take measures to maintain liquidity in NBFCs.

Earlier, Infrastructure Leasing & Financial Services (IL&FS) defaulted on a loan payment to IDBI due September 21.

Ramesh Bawa, Managing Director and Chief Executive Officer of its subsidiary IL&FS Financial Services has resigned.

Also read: IL&FS defaults on IDBI Bank LC payment; CEO of company's financial services arm resigns

State Bank of India (SBI) Chairman Rajnish Kumar has said the bank will continue lending to NBFCs and denied rumours of a cash crunch.
First Published on Sep 24, 2018 10:14 am
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