MUMBAI, 06 AUGUST, 2020 (GPN): Mr. HP Singh, Chairman & Managing Director, Satin Creditcare Network Limited , Quotes- 

“We welcome the government’s initiative towards reviving the economy and preserving financial stability amidst these trying and uncertain times. The announcement of Rs 10,000 Crore Liquidity Fund for NBFCs including HFCs and MFIs, through NABARD and National Housing Finance brings much needed immediate relief to the NBFC sector who are battling the liquidity crunch. Pragmatic measures benefiting our stressed clients in the MSME sector in the form of debt restructuring acts as a morale booster for the sector. Apart from these, it will help MFIs create offers for their clients that will give an impetus to the expansion of borrowing and financial inclusion. With the rising stress on the lower strata of the economy, such meaningful and targeted policy support can pave the way towards quicker recovery and  return to normalcy. With the large quantum of liquidity provided for financial markets coupled with the efforts to improve the flow of credit and increased focus on digital payments, we expect quicker recovery in the coming months.’’ ENDS