Liquidity stress has abated, says SEBI chief-‘Indian markets performed better despite high global volatility’
- The liquidity stress affecting non-banking finance companies and housing finance companies since September 2018 has abated significantly, and the Indian markets have performed better than several developed markets despite high global volatility this year, the chief of India’s stock market regulator Ajay Tyagi said.
- The Securities Exchange Board of India (SEBI) Chairman said that the role of capital markets in facilitating fund raising to sustain the country’s economic growth momentum ‘becomes even more important given the stress in the banking sector.’
Domestic issues
- Domestic issues such as NBFCs and housing finance companies facing tight liquidity since September 2018, although it has improved much on account of steps taken by the RBI in providing systemic liquidity.
- The SEBI chief said that the regulator has moved ‘in a timely manner’ ‘by government standards’ on implementing reforms in the corporate governance framework proposed by a committee headed by Uday Kotak.
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