With Rs 76,000 crore exposure to NBFCs, debt MFs should stay prepared for more defaults. : In the last three years, debt mutual funds had become the de-facto bankers to the fast-growing non-banking finance companies (NBFCs). They accounted for the bulk of the industry's growth capital as public sector banks pulled away from lending due to lack of capital. Now, the chicken has come home to roost as an increasing number of NBFCs face liquidity crunch after a sharp rise in interest cost has hit their repayment ability.