News digest: Stressed power assets, rupee falls, crisis-hit IL&FS, and more

Besides stressed power assets, shipping and sugar companies had also sought relief from the RBI notification

1. Power NPAs: SC transfers all pleas challenging RBI notification to itself

In a temporary relief to stressed assets, the Supreme Court on Tuesday asked banks not to refer any case for insolvency under the February 12 circular of the Reserve Bank of India (RBI) for the next two months.

The apex court also transferred to itself all cases challenging the notification. The next hearing has been fixed for November 14. Read more...

2. I'm sure LIC will take a prudent decision on IL&FS, says Irdai chairman

The Insurance Regulatory and Development Authority of India (Irdai) has asked insurance firms to