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Officials of IDBI, State Bank of India, Punjab National Bank, Bank of Baroda, Bank of India, IIFCL, ICICI Bank and Axis Bank met with GS Sandhu, Financial Services Secretary, on Friday to take stock of stalled power projects and discuss how to avert a blow to the banks.
“A group of bankers was formed to suggest steps to resolve the power sector issues. The group will submit its report by November 7. The Financial Services Secretary informed that issues of coal supply and pool pricing of gas will be taken up by the Union Cabinet,” said a power industry official who attended the meeting.
The Association of Power Producers had also made a presentation detailing the issues faced by the electricity generators. According to industry sources, 1,00,000 MW of private sector capacity is under stress where ₹5 lakh crore of bank loans have been provided.
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