In an official statement, the ministry said the assets of NBFCs increased from Rs 28.31 lakh crore post the default came to light to Rs 31.94 lakh crore.
"Post IL&FS default, aided significantly by Government support, assets of NBFCs have grown by 12.83 per cent from Rs 28.31 lakh crore to Rs 31.94 lakh crore, and assets of the 211 larger NBFCs with 81 per cent of market share have grown at an even higher rate of 19.69 per cent. Bank exposure to NBFCs has grown at a much higher rate of 17.46 per cent as compared to market financing," it said.
It further said that out of the 101 housing finance companies (HFC), 76 HFCs with 82 per cent of market share have shown a positive asset growth of 18 per cent post IL&FS default from Rs 8.45 lakh crore to Rs 10 lakh crore.
Exposure of banks and the National Housing Bank (NHB) to the 76 HFCs has grown by 38 per cent post IL&FS default, as compared to 14 per cent growth in market financing to these HFCs, it said.
The government has taken a slew of measures in the past one year to improve the liquidity condition in NBFCs, including a launch of Partial Credit Guarantee Scheme for purchase of high-rated pooled assets from financially-sound NBFCs and HFCs by public sector banks (PSBs).
In the Union Budget 2019-20, Finance Minister Sitharaman had announced the government would provide one-time six-month partial credit guarantee to PSBs for the purchase of assets and earlier this month the Union Cabinet approved the recently launched scheme that would now cover.
( With inputs from IANS )