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NEW DELHI: The Union Cabinet on Wednesday approved a partial credit guarantee scheme for public sector banks (PSBs) to purchase high-rated pooled assets from financially sound NBFCs and housing finance companies. PSBs can purchase high-rated pooled assets from financially sound Non-Banking Financial Companies (NBFCs)/Housing Finance Companies (HFCs), with the amount of overall guarantee provided by…

NewsStock Analysis, IPO, Mutual Funds, Bonds & MoreThe government had earlier this year announced it would partially guarantee state banks’ purchase of as much as 1 trillion rupees of performing assets of these non-bank financial companies.Reuters|Dec 11, 2019, 07.17 PM ISTBCCLThe government said it would allow state-run banks to get partial guarantees against the purchase…