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Few takers for special liquidity scheme due to stringent eligibility rules

The use of liquidity facility remains low due to factors such as consolidation of business, stringent eligibility rules and short tenure

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The Centre’s special liquidity scheme received getting muted response from small and medium finance companies due to factors such as consolidation of business, stringent eligibility rules, and short tenure. This, despite the non-banking companies facing a double whammy of cash shortage due to low collections and impending debt repayment.   This scheme, closed on September 30, sought to provide liquidity to the lenders for a period of three months. The corpus of the scheme was Rs 30,000 crore. According to the data released by the Centre, 39 proposals worth Rs 11,120 crore were ...