Second term for NDA will resolve NBFC’s liquidity woes, says IIFL chairman

By: |
Published: May 7, 2019 1:40:23 AM

The IIFL Group unveiled its new brand identity and launched its new product Advisor Anytime Anywhere (AAA) for financial advisors who can service their clients for all the financial products. 

Second term, NDA, NBFC, liquidity woe, IIFL, Lok Sabha elections, industry, newsSecond term for NDA will resolve NBFC’s liquidity woes, says IIFL chairman

Leading financial services player IIFL on Monday said if the BJP-led National Democratic Alliance (NDA) gets a second term after the ongoing seven-phase Lok Sabha elections, it will provide liquidity support to non-banking financial companies (NBFCs) currently facing cash crunch.

“If the present government gets a second term, it will ensure better liquidity for NBFCs. There were informal discussions to this end already and they said after the elections, RBI and government will sit down and make sure the liquidity problem is resolved,” IIFL chairman Nirmal Jain said at a company event.

Meanwhile, the IIFL Group unveiled its new brand identity and launched its new product Advisor Anytime Anywhere (AAA) for financial advisors who can service their clients for all the financial products. It is a proprietary hardware device, a tablet, with pre-loaded software and data card, giving you real time access to stock markets, mutual funds, news, views, expert recommendations, software to have a view of any client’s portfolio and advisor’s overall commission, performance etc.

“As Indian economy grows, the financial sector will grow faster. For true financial inclusion, we need savers to have access to the whole bouquet of products and some competent advisor to guide him or her on products best suited for the risk profile. The country with over a billion people needs more than a million new advisors,” Jain said. The tablet will be a full-fledged office and a library for information and research.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Next Stories
1Cyclone Fani: SBI operationalises most branches in Odisha
2Indian Overseas Bank eyes to raise Rs 850 crore in FY19-20
3ICICI Bank Q4 profit falls 5% on year to Rs 969 crore; key figures in nutshell