Panel discusses irregular discom payments, RBI not present

RBI, Reserve bank of india, discom payments, PK Sinha, payment security mechanism, economy news The meeting was chaired Cabinet secretary PK Sinha and senior officials from various ministries and major banks and financial institutions attended it. (Reuters)

The empowered committee on stressed power assets, which met for the second time on Friday, deliberated on the vexed issue of irregular payments from discoms to independent power producers, sources said. Additionally, possible changes in fuel allocation policies and ways of making discoms strictly comply with the terms power purchase agreements were also discussed.

A payment security mechanism for independent power companies has been a long-standing demand of private power firms. The meeting was chaired Cabinet secretary PK Sinha and senior officials from various ministries and major banks and financial institutions attended it. However, there was no representative from the Reserve Bank of India (RBI) in the committee’s second meeting as well.

Source: Financial Express