MUMBAI, MAY 17, 2020 (GPN):  Association of Mutual Funds in India (AMFI) has welcomed the twin measures announced by the Hon Finance Minister Smt. Nirmala Sitharaman to provide credit support to MSMEs and NBFCs.

MSME and NBFCs play a vital role in economy. Credit support to them at this crucial point of time will support economy and markets.

By providing INR 30,000 crores special liquidity scheme and INR 45,000 crores partial credit guarantee scheme for primary as well as secondary market transactions, NBFC sector will be able to focus on providing credit to the needy sector of economy.

After studying the package in its comprehensiveness, welcoming these initiatives, Mr N S Venkatesh, Chief Executive, AMFI said: “These twin measures and more would help provide liquidity to NBFCs/HFCs/MFIs. It will also help them raise capital in the markets, as investors and lenders will feel confident on NBFCs, post steps taken by the Government. This announcement will accelerate normalcy in capital markets.”

AMFI also welcomed the INR 20 Lakh crores package announced over the past week covering structural and tactical reforms. ENDS