FIDC bats for NHB as a refinancing body for the entire NBFC sector

Finance Industry Development Council (FIDC), an industry lobbying group for the NBFC sector, has written to the government seeking a refinancing body for NBFCs just like there exists one for the housing finance sector.

FIDC has suggested that the National Housing Bank (NHB) which acts as the refinancing body for HFCs can be made the apex refinancing body for the entire NBFC sector and not just HFCs now that its regulatory powers over the HFCs has been transferred to the Reserve Bank of India (RBI).

On the liability side, the NBFCs are heavily depended on banks and their risk averse approach post