Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
Labour Laws
06/09/20264 min read
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RBI project financing draft: NBFCs submit feedback, seek removal of higher provisioning
RBI
NBFCs, through the FIDC, have submitted feedback to the RBI regarding proposed project financing rules. FIDC, chaired by Umesh Revankar of Shriram Finance, suggests reverting the flat 5% provision during construction to the standard 0.4% rate, advocating for enhanced provisioning only for projects with DCCO extensions. \r
They oppose RBI's proposed minimum exposure limits, advocating for commercial agreements instead. FIDC requests a standard two-year DCCO extension without account downgrading. \r
Additionally, they seek access to CRILC for timely credit event awareness and oppose capping funding for cost overruns, preferring commercial decision-making. RBI invited feedback until June 15, with final guidelines expected after considering all views.
