The fund would be managed by a public sector bank though a special purpose vehicle (SPV) which will raise money by selling securities to the RBI. This money will be used to buy short term debt maturing in three months from NBFCs. In case of any defaults the SPV will be covered by a government guarantee.source https://economictimes.indiatimes.com/industry/banking/finance/banking/new-government-fund-for-nbfcs-will-have-limited-impact-analysts/articleshow/75851978.cms
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