Finance minister Arun Jaitey has said the government will take measures to provide the liquidity to NBFCs.
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.
The Government will take all measures to ensure that adequate liquidity is maintained/provided to the NBFCs, the Mutual funds and the SMEs.
— Arun Jaitley (@arunjaitley) September 24, 2018
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.