 "CEA K Subramanian")
Chief Economic Adviser K V Subramanian on Thursday said non-banking financial companies (NBFCs) need to take steps to contain risk in zombie lending and should take financial inclusion to the bottom of pyramid.
NBFCs have been under stress following a series of defaults by IL&FS group companies since September last year.
“Every NBFC needs to monitor its rollover risk and interconnected risk, CEA Subramanian said during a FICCI’s NBFCs summit.
“Simple things like tracking related party transactions, tracking the promoters shareholding that is pledged, the quality of financial statements, can enable NBFCs ability to repay but to willingness to repay
