October 19, 2018 / 3:28 AM / 10 months ago

India cenbank allows banks to lend more to some non-banking finance firms

Oct 19 (Reuters) - India’s central bank on Friday increased lenders’ single borrower exposure limit for non-banking financial companies (NBFCs) which do not finance infrastructure, to 15 percent of capital funds.

The limit has been raised from 10 percent and is effective up to Dec. 31, the Reserve Bank of India said here in a statement.

The relaxation in lending norms by RBI comes on the back of worries over tightening credit lines to NBFCs after a series of defaults at one of the country’s largest infrastructure financing companies. (Reporting by Tanvi Mehta in Bengaluru; Editing by Subhranshu Sahu)

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