APN News

  • Thursday, July, 2020| Today's Market | Current Time: 08:10:59
  • Thanks for your email and interest in our website . Articles with links to other websites we are charging USD 90 and for casino betting sites we are charging USD 220 We will give link insertion to existing post if it is not already sponsored or linked to other sites We will not marked sponsored or guest post If you had any query feel free to contact us

    Published on July 15, 2020

    Finance Minister Nirmala Sitharaman has said that the Partial Credit Guarantee Scheme, PCGS was revamped under the Aatmanirbhar Bharat Package to support the liability side of Non Banking Financial Companies, NBFCs. It provides a 20 per cent portfolio guarantee to Public Sector Banks for the purchase of Bonds or Commercial Papers rated AA and below which are issued by NBFCs.

    In a tweet, Ms Sitharaman said, as of 10th July, under the extended PCGS, Public Sector Banks have approved the purchase Bonds or Commercial Papers issued by 67 NBFCs amounting to 14 thousand 6 hundred 67 crore rupees.

    Of these 6 thousand 8 hundred 45 crore rupees is for Bonds or Commercial Papers rated below AA, providing liquidity support to NBFCs with lower rated Bonds or Commercial Papers.

    She said, further, the purchase of Bonds or Commercial Papers of 6 thousand 1 hundred 25 crore rupees, including 5 thousand 5 hundred 50 crore rupees of Bonds or Commercial Papers rated below AA, is currently under various stages of approval or at negotiation stage.

    Loading...