News digest: Stressed assets, RCom gets relief, Kerala floods, and more

Power sector players have approached the courts against the RBI, with a plea to give extra time for working on resolution package

Clock is ticking for Rs 3.8 trillion stressed assets

The fate of about 70 big-ticket stressed accounts with loans of over Rs 3.8 trillion is uncertain as the deadline of August 27 for firming up resolution plans for them approaches. Failing to stitch a plan might leave lenders with no choice but to take these companies to the bankruptcy court. Read more

RCom gets relief from overseas bondholders

In a development that takes it closer to averting bankruptcy proceedings, Reliance Communications (RCom) has secured approval of its overseas bondholders for the revised terms. The Anil Ambani-owned company had defaulted on