News Digest: RBI denies waiver for Pariwartan, Jaitley on rupee, and more

ICICI Bank's Managing Director and Chief Executive Officer Chanda Kochhar has denied the charges levelled against her by markets regulator Sebi

Stressed power assets: RBI denies waiver for REC's Pariwartan framework

The Pariwartan framework for resolving stress in the power sector, drafted by Rural Electrification Corporation (REC), could soon be also used for assets landing in the bankruptcy court, with the public financial institution seeking banks' support on this. The move comes after the Reserve Bank of India (RBI) refused to give any concession for REC’s asset restructuring company (ARC), being planned under the framework. Read More

Was not aware of Videocon's deals with husband, says Chanda Kochhar

ICICI Bank’s Managing Director and Chief Executive Officer Chanda Kochhar, facing allegations of conflict of interest and non-adherence to the code of conduct, has denied the charges levelled against her by markets regulator Securities and Exchange Board of India (Sebi). Read More

 

 Currency, equities' woes deepen as rupee closes at 71.76 against dollar

The rupee almost touched 72 a dollar on Wednesday as the equities market continued its losing streak for a sixth straight trading session. The Indian currency closed at 71.76 a dollar, down 0.27 per cent from its previous record close of 71.57 a dollar. The Reserve Bank of India (RBI) continued with its hands-off approach, with light-touch intervention, but not enough to prevent the rupee from marking yet another lowest close. Read More

Global factors behind Rupee fall, no need for knee-jerk reaction: Jaitley

Union Finance Minister Arun Jaitley said on Wednesday the upheaval in oil prices and the rupee was due to global situation, and the Centre would not take any decision out of panic that could be seen as a ‘knee-jerk’ reaction. There was virtually no domestic reason that could be attributed to the fall in the rupee, he said. Read More