Property developers get a leg up as RBI lists steps helping liquidity

Central bank provides Rs 10,000 crore as refinancing to National Housing Bank (NHB) to support housing finance companies.

Non-banking finance companies (NBFC), banks and housing finance companies (HFC) will get help after the Reserve Bank of India (RBI) announced on Friday a second round of measures to help liquidity as the country battles the coronavirus, said real estate firms and consultants.

The central bank, besides cutting the reverse repo rate, said it is conducting a targeted long-term repo operations (TLTRO 2.0) for an aggregate amount of Rs 50,000 crore. To avail funds, banks have to invest in the bonds and debentures of NBFCs among others.

It provided Rs 10,000 crore refinancing to National Housing Bank (NHB) to support housing finance