RBI skips meet on stressed power assets; SBI, PNB seek time for resolution

The first meeting of the high-powered committee (HPC) for resolving stress in the power sector did not see any attendance from the Reserve Bank of India (RBI) on Friday. Key lenders like State Bank of India (SBI) and Punjab National Bank (PNB), however, sought more time for resolution of 9,500 MW power assets that could see about 40-50 per cent haircuts on the outstanding amount. 

The absence of an RBI representative in the crucial meeting has sent a strong signal that the central bank is in no mood to relax its deadline, set via a February 12 notification, on taking