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NBFCs Play Crucial Role In Lending To Unbanked & Capital Formation With MSMEs

Capital Market 

The non-banking finance companies (NBFCs) should not merely use the money passed on to them by banks to just to improve the credit ratings but further pass it on to end-consumer to fuel India's economic growth, Minister of State for Finance, Anurag Singh Thakur said at an ASSOCHAM event held yesterday.

There is a need for further transmission of the credit from NBFCs to the industry especially MSME (micro, small and medium enterprise) sector. He noted that he has requested banks to ensure faster and greater disbursement of credit to ensure liquidity in the hands of NBFCs, said Thakur in his inaugural address at 6th ASSOCHAM NBFC Summit.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, October 18 2019. 14:52 IST