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.
The villains in the power sector’s tale of woes haven’t changed in a while: worsening asset quality and rising non-performing assets (NPAs).
India’s retail inflation accelerated more than estimated to a 17-month high and little respite is seen in the coming months amid a surge in oil prices, increasing the odds that borrowing costs will rise sooner than expected.
In its fifth bi-monthly monetary policy, the Reserve Bank of India (RBI) had indicated that moderation in inflation, excluding food and fuel, observed in the first quarter of this fiscal has reversed and there is a risk that this upward trajectory may continue in the near-term.
The rally in oil prices is a potential game changer for inflation in Asia and will pressure central banks to lift interest rates after years of easy money.
The Finance Ministry refused to list out 34 power projects that defaulted on bank loans worth crores of rupees to a Parliamentary panel on Energy on Thursday.
The spike in crude oil prices may have changed the fiscal equation for the Modi government and causing some headache to the Reserve Bank of India (RBI).
GVK Energy Ltd has closed funding for its 540 MW coal-fired power project in Punjab, having raised Rs500 crore from Deutsche Bank in priority funding, according to two people directly aware of the development.
Recent actions of the Reserve Bank of India (RBI) in solving the non-performing assets problem is considered as a concerted push, Fitch Ratings said.
The Reserve Bank of India (RBI) is proposing Asia’s third-largest economy offer licences to private companies to set up infrastructure banks.