Centre considers more relief measures for real estate sector, NBFCs

In a bid to help the NBFCs and real estate companies, the Centre is considering more relief measures for both stressed sectors. In the past few months the government has announced few measures to ease liquidity and the credit crunch in the economy. According to sources, the government is weighing the option of unburdening some of the major NBFCs of stress assets through a dedicated scheme. A stressed asset fund may be created to buy out the stressed financial assets. Further, the RBI is likely to consider proposals from finance ministry and Prime Minister's Office to let the banks take the decisions of not classifying them as default or special mention accounts (SMA) and go for one time recast of selective real estate companies' loans.