IBA, power sector spar on RBI norms for stressed assets

IBA, power sector spar on RBI norms for stressed assets

The power sector and Indian Banks Association have locked horns over threshold for approving resolution plan for stressed assets in tune with the Indian Bankruptcy Code in the revised circular on stressed assets being redrawn by the RBI after the Supreme Court on April 2 struck down its earlier circular. In their recommendations to the RBI, the IBA has recommended that lenders should agree on 90% of the value of any resolution plan against 66% sought by the industry in line with IBC..

 

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