Housing Fin Companies Allowed To Work During Lockdown

New Delhi: Government has allowed Housing Finance Companies (HFCs) to operate during lockdown giving them the much required reprieve.

The Home Ministry has just issued an order for allowing all HFCs, NBFCs, NBFC-MFIs, cooperative credit societies from the financial sector to operate during lockdown . However, these entities have been allowed to work with bare minimum staff.

Meanwhile, The Reserve Bank of India Governor Shashikanta Das today cut the Reverse Repo Rate by 25 basis points. He also said Rs 50,000 crore special finance facility will be given to national financial institutions like NHB, SIDBI and NABARD. 

Apart from this, he also decided to have TLTRO operations of Rs 50,000 crore to begin with.