Supreme Court order on NPAs: Power firms body heaves a sigh of relief, says ruling will give flexibility to restructure debt
The apex court quashed the RBI circular of 12 February, 2018, that made it mandatory for banks to recognize even a one-day default by the borrowers
Supreme Court strikes down RBI's 12 February circular on bankruptcy proceedings, declares it illegal
Last month, the RBI had maintained that there was no dilution in its stand with regard to 12 February circular on stressed assets recognition and resolution.
Distressed assets: Independent power producers urge RBI to extend deadline for filing resolution plans
The RBI released a list of authorised credit rating agencies on 21 May, 2018, reducing the time available to implementing resolution plans by 82 days.
RBI made its stand clear at a stakeholders' meeting, called by the ministry to discuss the circular, the implementation of which was stayed for the power sector by Allahabad High Court.
The Association of Power Producers has accused the RBI of over-ruling the Parliamentary standing panel on power and key ministries with its February 12 circular that ended all the existing loan restructuring mechanisms and voted for insolvency code to resolve stressed assets
The Railway Budget for 2015-16 proposed raising freight rates for 12 commodities that include a 6.3 percent increase for coal.