IIFL Finance (up 4.19%), Magma Fincorp (up 3%), Shriram Transport Finance Corporation (up 1.35%), Edelweiss Financial Services (up 1.25%), Mahindra & Mahindra Financial Services (up 1.03%), Muthoot Finance (up 0.44%), Manappuram Finance (up 0.36%), Cholamandalam Investment and Finance Company (up 0.3%) and Bajaj Finance (up 0.3%) advanced.

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 government till the first loss of up to 10% of fair value of assets being purchased by banks or Rs 10,000 crore, whichever is lower.

The scheme would cover NBFCs/HFCs that may have slipped into SMA-0 category during the one year period prior to 1 August 2018, and asset pools rated "BBB+" or higher.

The window for one-time partial credit guarantee offered by Government of India (GoI) will remain open till 30 June 2020 or till such date by which Rs 1,00,000 crore assets get purchased by the banks, whichever is earlier. Power has been delegated to the Finance Minister to extend the validity of the scheme by up to three months taking into account its progress.

The scheme is offered to PSBs with the objective that the purchase of pooled assets enabled by Government guarantee support under the Scheme, will help addressing temporary liquidity / cash flow mismatch issues of otherwise solvent NBFCs / HFCs without them having to resort to distress sale of their assets for meeting their commitments. This will provide liquidity to the NBFC / HFC concerned for financing the credit demand of the economy, and also protect the financial system of the country from any adverse contagion effect that may arise due to the failure of such NBFCs / HFCs.