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INDIAN (B)

'Raising long-term finance to be tough for NBFCs'

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According to SBI MD Arijit Basu, NBFCs had stepped in to lend to small and medium enterprises when banks were not lending. Speaking at Ficci-IBA summit, Basu said, “When the going was good, they were raising funds not just from banks but through the markets by issuing short-term commercial papers.” He said that this dried up because investors turned risk-averse.



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