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.

India’s GDP may grow 7.3% in FY19: Fitch

India’s GDP may grow 7.3% in FY19: Fitch

India’s economy will grow 7.3% in the current financial year and gain pace to 7.5% next year as the “temporary drag” from demonetisation and the goods and services tax fades away, Fitch Ratings forecast.

Creditors Approve Aion-JSW Consortium Offer For Monnet Ispat

Creditors Approve Aion-JSW Consortium Offer For Monnet Ispat

The first of the 12 big nonperforming loans referred by the Reserve Bank of India for resolution under the Insolvency and Bankruptcy Code (IBC) last year has reached closure with the committee of creditors approving the offer made by a consortium of Aion Capital and JSW Steel for Monnet Ispat.