Banks finalising power firms debt resolution plans

Banks finalising power firms debt resolution plans

Economic Times reported that banks, led by State Bank of India, are close to finalising resolution plans for at least half a dozen stressed power companies involving total loans of INR 50,000 crore, which could result in banks taking more than 50% haircut.

Power ministry seeks change in RBI order on stressed units

Power ministry seeks change in RBI order on stressed units

Stressed power assets have got a major boost as the power ministry has strongly recommended substantial changes to the RBI’s controversial Feb 12 circular on loan defaults that industry says will send capacity of 30,000 megawatts into liquidation, while the coal ministry has assured higher fuel supply to thermal plants with the help of auctions.

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