 "Given the uncertainty related to demand pick-up, recoveries, and asset quality, banking sector is in for a long haul, says Siddharth Purohit of SMC Global Securities")
The relief package announced by Finance Minister Nirmala Sitharaman on Wednesday, including the Rs 30,000-crore special liquidity scheme for non-bank finance companies (NBFCs), housing finance companies (HFCs), and micro-finance institutions (MFIs), is definitely a positive development for non-bank finance companies (NBFCs) given the tight liquidity conditions in the Covid-19-hit economy.
Compared to what we have seen so far, we can say that this package has some ‘relief’ for the sector. That said, we need to wait for all the announcements to come through before judging how each and every announcement will play out.
The FM announced a set of stimulus
