Replying to the Union power ministry’s request for extension to stressed power projects, the Reserve Bank of India (RBI) has said that no such extension would change the fundamental issues facing the power sector. “No special dispensation could resolve the underlying problems for the sector,” it has said.
With the August 2018 deadline for 30,000 Mw of stressed power assets to seek a resolution nearing, and another 50,000 Mw staring at a debt crisis, the RBI statement holds a cruel mirror up to them. In February this year, the central bank had mandated banks to Read More
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