A majority of the highways do not have a sizeable accumulated surplus or a debt service reserve account (DSRA), which will put these projects under stress, ICRA said.
Banks' optimism was belied by reports from around India about long queues, shortage of Rs 100 notes and ATMs that worked sporadically, if at all.
Dispensation of notes to ATMs has been an issue for the last three days after the old Rs 500 and Rs 1,000 notes were pulled out from circulation from midnight on Tuesday.
"Money mules are hired mostly by fraudsters and money launderers to transfer illegal money into the mules" account. Now, they seem to have become the vehicle to exchange unaccounted money for new currency notes."
In a press release on its website RBI said it has made arrangements to distribute currency all across the country but it may take a while for banks to recalibrate their ATMs.
Several customers were disappointed and returned empty-handed as many branches ran out of cash within hours of opening for business.
While banks are bracing for deluge of deposits and demand to open new accounts, experts see a looming possibility of black money hoarders engaging huge number of gullible people to exchange their illegal cache of high value currency notes.
Total bank deposits in the fortnight to October 14 were Rs 99.63 lakh crore, a growth of just above 10% yearon-year.
Perpetual bonds are fixed income instruments with no maturity date. They are not redeemable, which means investors in these instruments are assured interest payments forever.
The lenders questioned the group’s motive to pay back their money while threatening “all possible steps” including legal action if they are not paid back.
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