NBFCs can now raise foreign loans to meet liabilities

Economy Bureau
Posted: Saturday, Nov 01, 2008 at 2340 hrs IST
Updated: Saturday, Nov 01, 2008 at 2340 hrs IST

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New Delhi, Oct 31 : an NBFC needs to maintain a minimum net owned fund of Rs 2 crore. NBFCs having assets size of over Rs 100 crore are considered as systemically important and are required to maintain a minimum capital adequacy of 10%. Rapid fall in the stock market has hit the promoters’ loans portfolio of NBFCs that are finding it tough to recover their dues by selling stocks held as collaterals. Plus a large number of NBFCs have bought debt papers of real estate companies and small & medium enterprises....

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