PMO calls meet with Power Ministry, leading lenders on stressed assets

The banks are looking at several agencies, including the National Investment and Infrastructure Fund, to share the equity investment with them

The Prime Minister’s Office (PMO) has convened a meeting of the power sector’s leading lenders and the power ministry on Sunday to discuss a way to end the impasse over the Reserve Bank of India’s (RBI’s) loan default guidelines.

Sources said the prime minister’s Principal Secretary, Nripendra Misra, would meet the chief executives of State Bank of India, Punjab National Bank (PNB) and Power Finance Corporation (PFC). The meeting will be attended by officials from the power ministry as well.

“Recent RBI guidelines have put pressure on the power companies that were already under stress. Every week, more companies are