India’s leading Industry body, Assocham took a delegation of industrialists and met the new Reserve Bank of India governor Mr. Shaktikanta Das and discussed the liquidity issues being faced by non-banking financial companies and housing finance players, and suggested some steps to ease the crisis.
Since taking charge on December 12, Das has met banks, both public and private sector and also NBFCs and MSMEs. This is the first meeting the governor has had with an industry lobby, though.
The delegation, which met the governor in New Delhi, told him that over-regulation of the sector is hampering the growth of the NBFC model of lending.
The players requested the governor to maintain the existing asset liability mismatch (ALM) norms till the normalcy is restored.
The industry body said NBFCs need the regulator to also play the role of facilitator