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Published on 7/11/2019 3:34:18 PM | Source: Live Mint

RBI is closely monitoring NBFC sector: Shaktikanta Das

Posted in Economy News| #RBI #NBFC #RBI Governor #Shaktikanta Das

The Reserve Bank of India (RBI) is closely monitoring non-banking financial companies (NBFCs), and is regularly interacting with the management of these companies to take corrective steps as and when required, the Reserve Bank’s governor Shaktikanta Das said on Thursday.

“RBI is monitoring top 50 NBFCs, which account for 75% of the sector. We are having regular interaction with the management of NBFCs and asking them to take corrective steps as per market mechanism. RBI has a broad and good sense of what’s happening in the sector," Das told reporters at North Block.

The governor attended a review meeting on Financial Stability and Development Council held at the ministry of finance today. Finance minister Nirmala Sitharaman was to chair the meeting.