Reliance Home Finance announced that in view of the continuing severe liquidity crisis in the sector, the maturity of certain NCDs of Rs 400 crore has been extended till 31 October 2019, with the formal written consent of the concerned Debenture Trustees and NCD holders.
The company has already monetised over Rs. 5,000 crore of retail assets, and will continue to do so to meet its debt servicing obligations.
The housing finance sector is dealing with an extraordinary situation where all categories of lenders in the country have completely frozen new lending to private sector companies for 9 long months, leading to a severe adverse impact on economic growth and a potential systemic threat to the stability of the Indian financial system.
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