Banks that got burnt in the recent bad loans bonfire are shutting doors on a big chunk of lesser-rated, needy borrowers.
Goyal will hold 25.5 per cent in Jet after the banks take control with a 51 per cent stake.
No asset sales are planned because this industry does not have assets, says SBI chairman.
The RBI timeline for such reduction in risk started in fiscal 2017-18 .
Das who is also a member of the 15th finance commission said there is a need to ensure consistencies between finance commissions.
This increased surveillance comes at a time when banks are battling record NPAs.
The options include asking ArcelorMittal to pay up the whole amount and keep the contentious payments to operational creditors in an escrow account.
Appellate tribunal has suggested that operational creditors be paid at least 10% out of the proceeds from ArcelorMittal’s resolution plan.
Lenders are currently working out a restructuring plan for the airline under a scheme called Project Sashakt which includes conversion of debt into equity.
The tribunal has given two weeks time to the government and various investigation agencies to file their response.
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