Housing finance firms to get additional liquidity support
The government on Friday announced an additional Rs 20,000-crore liquidity support to the struggling housing finance companies (HFCs), a move aimed at enhancing their lending capacity.
The additional liquidity support to be provided by the National Housing Bank (NHB) will help the real estate sector which is facing a demand slowdown and cash crunch.
The Rs 20,000 crore is in addition to Rs 10,000 crore support announced earlier by the housing sector regulator NHB.
Announcing this as part of measures to prop up the economy, finance minister Nirmala Sitharman said now the liquidity support for HFCs would be Rs 30,000 crore.