At least 40 pension and provident fund trust have a combined debt exposure of Rs 3,300 crore to Dewan Housing Finance Corporation (DHFL), according to a Mint report.

Most funds that have exposure to the non-banking financial company (NBFC) belong to the public sector, the report said, citing a filing with the Registrar of Companies.

State Bank of India’s (SBI) pension and provident fund invested Rs 75 crore in 2016 and Rs 150 crore in 2015, the report said.

The NBFC space has been under pressure since September last year after infrastructure financier IL&FS defaulted on crucial payments, triggering fears of a liquidity crisis. Pension and provident funds also have an exposure worth Rs 9,134 crore to IL&FS and its related entities, according to a Business Standard report.

Moneycontrol could not independently verify this story.

DHFL has seen a number of ratings downgrades in the past month.

CARE Ratings recently downgraded its fixed deposit programme worth Rs 20,000 to A from BBB-. CRISIL cut its rating on commercial papers worth R 850 crore to A4+ from A3+.

The company on May 22 said it has halted fresh deposits and premature deposits on existing deposits. The management said it will honour premature withdrawals in case of medical or financial emergencies.

Most of DHFL’s non-convertible debentures (NCDs) were bought from pension, provident funds and gratuity fund trusts from public sector enterprises.

The Central Board of Trustees (Employees’ Provident Fund) also invested Rs 750 crore in May 2015 through NCDs.