(23 Jan 2025, 15:46)

FIDC asks for a dedicated refinance window for non-banking finance companies

The Finance Industry Development Council (FIDC) in its pre-budget memorandum for FY26 has asked for a dedicated refinance window for non-banking finance companies (NBFCs) in its pre-budget memorandum to the government. The FIDC highlighted several issues, including the need for diversified funding sources, improved recovery mechanisms, persistent taxation challenges, and difficulties in MSME financing. To address these, the council proposed establishing a dedicated refinance window through institutions like SIDBI to reduce reliance on banks and foreign borrowing. It also called for expanding the corporate bond market, especially for BBB+ to AA-rated bonds, and suggested introducing a market-making mechanism to enhance liquidity.

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FIDC asks for a dedicated refinance window for non-banking finance companies