Government issues Scheme to provide a one-time partial credit guarantee to PSBs for purchase of pooled assets of financially sound NBFCs https://www.taxtmi.com/news?id=21880 The Scheme provides a one-time Partial Credit Guarantee enabling Public Sector Banks to purchase high-rated pooled assets from eligible NBFCs/HFCs at fair value to alleviate temporary asset-liability mismatches. The guarantee is limited in time and overall purchase ceiling, acts as first loss cover for the purchasing bank subject to invocation on defined delinquency, requires RBI/NHB accreditation and specified asset and issuer eligibility, mandates reporting and quick Government settlement of claims, charges a fee routed through the purchasing bank, and imposes ALM and capital maintenance obligations on originators. en-us Wed, 14 Aug 2019 09:54:01 +0530 Wed, 14 Aug 2019 09:54:01 +0530 TaxTMI RSS Generator Government issues Scheme to provide a one-time partial credit guarantee to PSBs for purchase of pooled assets of financially sound NBFCs https://www.taxtmi.com/news?id=21880 The Scheme provides a one-time Partial Credit Guarantee enabling Public Sector Banks to purchase high-rated pooled assets from eligible NBFCs/HFCs at fair value to alleviate temporary asset-liability mismatches. The guarantee is limited in time and overall purchase ceiling, acts as first loss cover for the purchasing bank subject to invocation on defined delinquency, requires RBI/NHB accreditation and specified asset and issuer eligibility, mandates reporting and quick Government settlement of claims, charges a fee routed through the purchasing bank, and imposes ALM and capital maintenance obligations on originators. News - Wed, 14 Aug 2019 09:54:01 +0530 https://www.taxtmi.com/news?id=21880