RBI prepared to step in as non-banks suffer liquidity shortage
Government and regulators stress readiness to act amid non-bank liquidity pressures
The Reserve Bank of India has said it is willing to take “appropriate actions” in markets, after a default by a non-bank financial company (NBFC) triggered liquidity pressures across the sector.
“The Reserve Bank of India and the Securities and Exchange Board of India are closely monitoring recent developments in financial markets and are ready to take appropriate actions, if necessary,” regulators said in a short joint statement on September 23.
Separately, finance minister Arun Jaitley said
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