The planned meeting between the Reserve Bank of India and the Ministry of Power to seek relaxed norms of NPA categorisation in the power sector has been deferred.
Speaking at the sidelines of an NTPC Conference on Agro Residue and Municipal Solid Waste to Power, Minister of State (Independent Charge) for Power and New and Renewable Energy, RK Singh, confirmed the postponement.
Singh had earlier said that he would seek mending the new RBI norms that categorised an account as a NPA if there was a default of even a day in servicing debt. Sources said the Finance Ministry is not in favour of allowing relief for just one sector.
The Association of Power Producers had said that nearly 70,000 MW of power sector assets face the threat of liquidation due to the new RBI norms.
Speaking at the event, Singh also said that NTPC has been at the forefront of agro residue and municipal solid waste management, to give Delhi-NCR cleaner air. “NTPC proactively ran a pilot project to use biomass for power generation, which proved that biomass conversion into power is a viable solution to better air quality,” he said.
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