Liquidity Stress: Housing finance lenders facing liquidity stress: Official

India’s non-banking housing finance firms are going through liquidity tension, Company Affairs Secretary Injeti Srinivas mentioned on Monday.

Srinivas mentioned the finance firms wish to evaluation their investment type in order that they are able to goal for sustainable expansion.

A string of defaults at an NBFC, Infrastructure Leasing and Monetary Provider Ltd (IL&FS), have brought about sharp falls in Indian inventory and debt markets amid fears of contagion inside of the remainder of the rustic’s monetary sector.

Stocks in housing finance lenders Indiabulls Housing Finance, Dewan Housing Finance Company and PNB Housing Finance have been buying and selling down between three % and eight % on Monday.

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