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The Reserve Bank of India (RBI) has cancelled the Certificate of Registration of 31 non-banking financial companies (NBFCs).
The move comes days after the central bank eased liquidity norms for banks in order to release additional funding for NBFCs.
NBFCs have been under pressure recently due to fears of a liquidity crisis, high valuations and asset liability mismatches.
Source: RBI
The crisis in the NBFC sector had triggered after IL&FS group defaulted on payments. #casansaar (Source - RBI MoneyControl)
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