 "Arun Jaitley")
Executives of six large public sector banks on Friday assured Finance Minister Arun Jaitley and officials that they have enough financial firepower to support the non-banking financial companies (NBFCs) plagued by liquidity crisis.
According to sources, executives from State Bank of India, Punjab National Bank, Bank of Baroda, and three more banks briefed the finance minister through video conferencing on the liquidity crisis in NBFCs. Economic Affairs Secretary Subhash Chandra Garg and Financial Services Secretary Rajiv Kumar attended the discussions.
Jaitley told the bankers to ensure there are no defaults on payments obligations by NBFCs. The bankers, in turn, are learnt to
