homevideos Newsenergy NewsObjective of meeting is to apprise RBI of predicaments of power sector, says Ashok Khurana
Objective of meeting is to apprise RBI of predicaments of power sector, says Ashok Khurana
Power ministry officials are all set to meet Reserve Bank of India officials today to raise their concerns regarding RBI's February 12 circular on stressed asset resolution.
Efforts are on to save over 40,000 megawatts of power projects from going to the insolvency courts or to liquidation.
Objective of the meeting is to make RBI understand and appreciate the predicaments of the power developers, said Ashok Khurana, director-general of Association of Power Producers.
Also read: Experts discuss how to resolve power NPAs
“RBI’s objective is to resolve the sector or send this productive asset to National Company Law Tribunal (NCLT),” he added.
SS Mundra, former deputy governor of RBI, talking about the power plant crisis, said that multiple stakeholders will have to identify their point of action with regard to stressed assets.
“It would be unrealistic to expect that banks only would bear all the burden of this problem ... It should be an agreement which has some legal sanctity and timeline which everyone has to agree,” he said.
First Published: May 8, 2018 12:10 PM IST
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