In order to provide liquidity to NBFCs to meet the temporary fund mismatches, RBI in January offered to purchase securities issued by a special purpose vehicle guaranteed by the government for an aggregate amount of Rs 20,000 crore till June 30. The Industrial Development Bank of India Stressed Asset Stabilisation Fund Trust was notified as the SPV for this.
(Published 23 July 2009, 16:26 IST)
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