Governor, Reserve Bank of India held meetings with the representatives of Non-Banking Financial Companies (NBFCs), including NBFC-Micro Finance Institutions (NBFC-MFIs), and representatives of Mutual Funds (MFs) today in two separate sessions through video conference. The meetings were attended by Deputy Governors and other senior officers of RBI.

The Governor acknowledged the critical role NBFCs, including MFIs, play in delivering last mile credit, and the importance of Mutual Funds in financial intermediation.

During the meeting, among other matters, the following issues were discussed.

Meeting with Representatives of NBFCs including NBFC-MFIs:

1. Availability of liquidity from banks and other financial institutions;

2. Post lockdown strategies for supply of credit, including working capital, to MSMEs, traders and bottom of pyramid customers in semi-urban, rural and urban areas;

3. Implementation of three months moratorium on repayment of loan instalments announced by the RBI; and strengthening grievance redressal mechanisms

Meeting with Representatives of Mutual Funds Industry:

1. Impact of measures taken by the Reserve Bank with regard to the provision of liquidity;

2. Review of the functioning of the bond markets;

3. Plans for the way forward

(Yogesh Dayal)     
Chief General Manager

Press Release : 2019-2020/2308