The fourth monetary policy committee (MPC) meeting of the Reserve Bank of India (RBI) has begun today amid concerns over falling rupee and widening current account deficit (CAD), with top economists predicting a 25 basis points hik
Essar Power, GMR Energy and RattanIndia Power have approached Allahabad HC seeking directions to RBI for extension of deadline to refer their plants to insolvency court by 60-90 days for completing the ongoing resolution process, sources said.
Investment by Indian companies in their overseas ventures fell by more than 36 per cent to $1.39 billion in July this year, the Reserve Bank data showed. India companies had invested $2.17 billion in their overseas subsidiaries and joint ventures in the form of loan
Banks may have to take a haircut of as much as 60% from the close to Rs 1.8 lakh crore of loans to the power sector after the Allahabad High Court denied power companies interim relief from Reserve Bank of India’s tightened NPA regulations
The government is considering its options in the wake of the Allahabad High Court’s refusal to entertain the power producers’ petition challenging the RBI deadline for starting bankruptcy proceedings against banks’ NPAs, or bad loan accounts, a senior official said on Tuesday.
The next 15 days could see power plants belonging to Jindal and telecom tower firm GTL and petrochemical maker JBF Industries heading to bankruptcy courts as the central bank-set deadline for resolution came to an end at midnight on Monday
As the deadline set by the Reserve Bank of India (RBI) for resolution of stressed assets ended Monday, lenders have decided to refer 20 of at least 32 NPA accounts to bankruptcy courts, according to two bankers aware of the matter.
With the deadline set up by Reserve Bank of India (RBI) for resolution of stressed assets worth around ₹ 3.8 trillion coming to an end today, all eyes are on the expected Allahabad high court judgement on a clutch of petitions against the central bank’s 12 February circular.
The Allahabad high court will continue on Tuesday hearing of the case filed against Reserve Bank of India circular by power companies .
Independent power producers have urged the Reserve Bank of India (RBI) to extend the last date for finalising resolution plans for defaulting projects to November 16 from August 27, as the central bank itself delayed releasing the list of authorised credit rating agencies, an indispensable part of the process.