NBFC crisis has bottomed out; govt, RBI will monitor situation: Sitharaman

Finance Minister Nirmala Sitharaman Saturday said the NBFC crisis seems to have bottomed out and the government along with the RBI will closely monitor the situation to ensure that the sector comes out of the wood.

She further said that the government takes all the steps to keep inflation under check while dismissing the contention that hike in duty on petrol and diesel will impact prices situation.

Sitharaman in her Budget on Friday announced a series of steps to give relief to non-banking financial companies facing cash crunch following the collapse of IL&FS last year.

"Largely it (NBFC crisis) has reached a peak