FinMin to take up infra lenders’ woes on draft finance norms with RBI
The Department of Economic Aairs (DEA) in the Finance Ministry is set to gather feedback from banks and other infrastructure lenders on the draft project finance guidelines issued by the Reserve Bank of India (RBI).
Post this consultation exercise, senior DEA o¢cials are likely to meet RBI at Mumbai to convey the government’s thinking on the same, sources said. The RBI had fixed June 15 as the last date for submission of stakeholder comments on the draft guidelines.
The DEA — which is the main department in the Finance Ministry overseeing infrastructure development — is likely to obtain feedback from bank representatives early this week. The RBI is not asking banks to increase the provisioning from the current 0.4 per cent to 5 per cent at one go.