Crisis in NBFC sector imminent: Corporate Affairs Secretary

Corporate Affairs Secretary Injeti Srinivas has said there is an "imminent crisis" in the Non-Banking Financial Companies (NBFCs) sector. "There is a credit squeeze, over-leveraging, excessive concentration, massive mismatch between assets and liabilities, coupled with some misadventures by some very large entities," he added. "[This] is a perfect recipe for disaster," Srinivas further said.