Recently seen in news Special Liquidity Scheme for Non Banking Financial Companies NBFCs and Housing...........

Economic and Social Issues Rural Banking and financial institutions

Recently seen in news Special Liquidity Scheme for Non-Banking Financial Companies (NBFCs) and Housing Finance Companies (HFCs), will be administered by which of the following departments?

Department of Economic Affairs

Department of Financial Services

Department of Expenditure

Department of Commerce

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Explanation:

Recently, the Union Cabinet chaired by Prime Minister has approved the proposal of Ministry of Finance to launch a new Special Liquidity Scheme for Non-Banking Financial Companies (NBFCs) and Housing Finance Companies (HFCs). Its objective is to improve liquidity position of the NBFCs/HFCs. The direct financial implication for the Government is Rs. 5 crore, which may be the equity contribution to the Special Purpose Vehicle (SPV). The Scheme will be administered by the Department of Financial Services, which will issue the detailed guidelines. Hence option 2nd is correct.