According to sources, in the coming budget in February, small and medium NBFCs are preparing to take big steps.
Small and medium-sized non-banking finance company (NBFC) can get relief on funding and tax fronts in the budget (Budget 2021).
Non-rating NBFCs will get term loan facility
According to sources, in the coming budget in February, there is a readiness for the small and medium NBFCs to take big steps, which will solve their liquidity problems. According to information quoting sources, non-rating NBFCs will get term loan facility in this budget. There will be a provision for dedicated funding through unutilized funds, 40% lending can be provided in the new scheme.
Also read- This bank has increased interest rates on savings account by 1 percent, you can also get the account open immediately, 7 percent will get interestAccording to sources, about 40,000 crore rupees of funds have not been utilized. There may be a provision to provide it to small NBFCs. Funds are lying in SLS and PCGS. Its lending will be through SIDBI and NABARD. Apart from this, relief is also being considered in TDS deduction rules. According to sources, exemption from the rule of 10% TDS deduction on interest is possible. It is also being considered to include strained NBFCs in the On Tap TLRO.
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Budget session of Parliament will start soon: Speaker of Lok Sabha
Lok Sabha Speaker Om Birla said on Friday that the budget session of Parliament will start soon. Birla, who arrived in Dehradun to attend the program related to the panchayat representatives, said that the budget session will be normal and the entire period will last. He said that the government will issue guidelines regarding the vaccination of MPs before the commencement of the session.