Explanation:

Explanation

Key features of the scheme:

• It allows for purchase of high-rated pooled assets from financially-sound non-banking financial companies (NBFCs) and housing finance companies (HFCs) by public sector banks (PSBs).
• The scheme would cover NBFCs and HFCs that might have slipped into “SMA-0” category during the one-year period prior to August 1, 2018, and asset pools rated “BBB+” or higher.
• The window for one-time partial credit guarantee offered by the government would remain open till June 30, 2020 or till such date by which Rs 1 lakh crore worth of assets get purchased by the banks, whichever is earlier.
• The Finance Minister would have the power to extend the validity of the scheme by up to three months by taking into account its progress.