New Delhi, Aug 9 (TIWN) The special liquidity scheme (SLS) for NBFCs and HFCs has received a positive response from the financial sector with 15 proposals involving an amount of Rs 6,399 crore already sanctioned upto August 7.

The scheme launched on July 1 permits both primary and secondary market purchases of debt and seeks to address the short term liquidity issues of non-banking financial companies (NBFCs) and housing finance companies (HFCs).  

"The Special Liquidity Scheme (SLS) of Rs 30,000 crore was announced as a part of the #AatmanirbharBharat package with an aim to improve the liquidity position of NBFCs and HFCs," Finance Minister Nirmala Sitharaman said in a tweet.

Sharing implementation status update of the scheme, she said, 15 proposals with a total sanctioned amount of Rs 6,399 crore have been cleared as on August 7 while 37 more applications seeking financing of up to Rs 11,037 crore are under process.

NBFCs and HFCs came under stress following a series of defaults by IL&FS group firms in September 2018.