There are more than 11,000 NBFCs of which 218 are systemically important, having total assets of Rs 25 lakh crore.
Jet’s remaining debt of Rs 6,000 crore will be restructured and converted into long term 10-year debt.
The audit of the private sector lender’s books by the central bank showed that Yes Bank has recognized all toxic assets and provided for them for FY18.
A penalty of Rs 2 crore has been imposed on Corporation Bank and Rs 1 crore each State Bank of India (SBI), Bank of Baroda and Union Bank of India.
The RBI has removed 100 percent risk weights for NBFCs and now their risk weights will be as per their rating, which is a positive development for higher rated NBFCs, suggest experts.
“Turning to the growth outlook, GDP growth for 2018-19 in the December policy was projected at 7.4 per cent (7.2-7.3 per cent in H2) and at 7.5 per cent for H1:2019-20, with risks somewhat to the downside,” the RBI said in a statement.