more-inThe Finance Ministry refused to list out 34 power projects that defaulted on bank loans worth crores of rupees to a parliamentary panel on Energy on Thursday. Earlier on two occasions, the Reserve Bank of India had refused to divulge the names of the loan defaulters. The Standing Committee on Energy, which was discussing non-performing assets (NPA) in the power sector, hauled the government over coals for the “casual” briefing by officials of the Department of Financial Services, the RBI and the banks that financed these power projects. At a previous meeting of the committee, the Department of Financial Services had said that at least 34 power projects came under the category of non-performing assets. Panel finds it fishy“Officials of the Department of Financial Services told us that it does not maintain NPA-related data.

Source: The Hindu November 03, 2017 15:00 UTC