Parliamentary Standing Committee on Energy recommends framework for stressed asset resolution

The Parliamentary Standing Committee on Energy has recommended that a new framework must be adopted to resolve the issue of stressed power assets. The committee stated that the Reserve Bank of India (RBI) guidelines issued in February 2018 have forced the electricity sector towards non-performing assets (NPAs). The committee has recommended that appropriate, relevant and sector-specific measures be taken to address the issue in the interest of the economy in general and the electricity sector in particular. Meanwhile, in the hearing held on August 2, 2018, before the Allahabad High Court, the RBI maintained its stand on the revised rules for stressed assets and stuck to the August 27, 2018 deadline for completing the resolution proceedings of these assets.

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