The Reserve Bank of India (RBI) is working on revising the framework for resolution of stressed assets, including providing additional 60 days to borrowers to repay dues, as part of efforts to mitigate hardships faced by genuine businesses, sources said.
Tata Power Company Ltd’s shares rose as much as 3.49 per cent to Rs 77 rupees, while Adani Power Ltd climbed as much as 6.47 per cent to Rs 51.85 today
In a big relief to power, sugar, shipping and other companies, the Supreme Court on Tuesday set aside a February 12, 2018 circular of the Reserve Bank of India via which the banking sector regulator had asked banks to take defaulting power, sugar, shipping and other sector companies to insolvency.
Private Power producers have pleaded with the Supreme Court that the February 12 circular of the RBI will further accentuate the already existing grave problems afflicting the health of the sector while challenging the validity of the central bank`s order.
A year after India’s central bank tightened the screws on companies delaying debt payments, the nation’s Supreme Court is poised to begin hearing arguments on whether the regulator’s diktat applies across industries.
RBI’s decision to put half of public sector banks (PSBs) under prompt corrective action (PCA) framework has put highway projects in a spot of bother. A report in Business Standard pointed out the reason why road monetisation
Power Finance Corporation (PFC) is likely to approach foreign banks for raising a portion of funds required to buy out the centre’s stake in REC as state-owned banks are likely to hit regulatory limits set on exposures to a single entity,
The Indian Banks’ Association (IBA) has asked Reserve Bank of India (RBI) and the government for a six-month exemption on asset classification of loan exposure to the debt-laden IL&FS group, Business Lin
Terming the IL&FS crisis as a regulatory failure, former chief economic advisor to finance minister Arvind Subramanian has said the Reserve Bank should be held responsible for the crisis at one of the largest entities it has been regulating.
RBI Governor Urjit Patel Tuesday committed to a parliamentary committee to give in writing his views on some of the controversial issues, which may include the government citing never-used powers to get the central bank on the discussion table, said sources.