Top officials to discuss power projects facing insolvency

Top officials to discuss power projects facing insolvency

Banking secretary Rajiv Kumar will hold a meeting with banks, power companies, and senior officials of Reserve Bank of India and related ministries on June 21 to discuss the banking regulator’s new norms on stressed assets in relation with power projects, as directed by the Allahabad High Court.

PSB-funded power projects may have to procure local equipment

PSB-funded power projects may have to procure local equipment

The government is considering making it mandatory for all power projects funded by state-run banks to procure local equipment. A public procurement mechanism with purchase preference to domestic equipment manufacturers for future electricity generation, transmission and distribution projects is in the works, a senior government official said.

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