New NPA rules: Power producers' body accuses RBI of overruling House panel
New NPA rules: The Association of Power Producers has sought a special dispensation from the Reserve Bank saying their defaults are caused mostly by non-payment/delayed payments by state discoms and regulatory delays coupled with poor coal supplies by Coal India. The association claims that regulatory delays have resulted in pending payments worth Rs 7,800 crore, while pending receivables from state discoms stand at Rs 8,300 crore. Also state-run Coal India is meeting only around 60 per cent of its committed supplies
New NPA rules: "The issue of stressed assets was discussed with developers, bankers, regulators, and officials of power and coal ministries by the Parliamentary Standing Committee on Energy," says Association of Power Producers. Image source: Reuters