Independent journal on economy and transport policy
08:21 GMT+2
Govt asks RBI to relax rules for reviving shipbuilding industry
(Business Standard)
December 4, 2014
Press Trust of India
The government today said it has requested the Reserve Bank of India (RBI) to relax norms for restructuring of shipyards in view of shipping being a highly capital intensive industry.
“The government has requested RBI and the Ministry of Finance to sanction a special dispensation for five years i.E. up to March 31, 2020, to treat repeat restructuring of shipyards, after failure of first Corporate Debt Restructuring (CDR), as equivalent to first restructuring,” Minister of State for Shipping Pon Radhakrishnan informed the Lok Sabha in a written reply ...... Read more on Business Standard
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