By Suvashree Choudhury and Abhirup Roy MUMBAI (Reuters) - The Reserve Bank of India (RBI) sought on Friday to ease a massive credit crunch affecting non-banking finance companies (NBFCs) by allowing banks to act as partial guarantors for some of their existing debt which should make it easier to refinance. The RBI said banks could now provide partial credit enhancement to refinance bonds issued by NBFCs and housing finance companies (HFCs) with tenors of not less than three years
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Saturday, 3 November 2018
RBI to help shadow banks refinance debt as default worries loom
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