Bankers brainstorm with Goyal on improving credit flow, sector's heath
Mumbai, June 8: Top bankers from north and south India on Friday discussed modalities to improve credit flow and setting up global standards in the banking system, Finance Minister Piyush Goyal said here.
"There was an internal discussion among the bankers, particularly in respect to improving credit flow while mitigating risk associated with it," he said in a press conference after meeting the bankers.
Goyal said the banks may also consider having an oversight company with retired judges or vigilance officers to advise on the health of the banks.
A committee has been formed under Sunil Mehta, non-executive Chairman, Punjab National Bank to come up with recommendations, within two weeks, on suggestions given by bankers on Friday on whether to set up a asset reconstruction company or asset management company for faster resolution of stressed asset.
"The government stands committed to support 21 public sector banks," the minister added.
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Power tariffs under BESCOM to rise from May 1
Bengaluru (PTI): Power bills for consumers under the Bangalore Electricity Supply Company Limited (BESCOM) will go up from May 1, following an order issued by the Karnataka Electricity Regulatory Commission (KERC) on Friday.
The hike comes after KERC allowed the BESCOM to recover a revenue deficit of Rs 2,068 crore incurred in 2024-25, from the consumers.
As a result, for every unit of electricity consumed in 2024-25, the customers will be charged an additional 56 paise, it said.
"BESCOM shall calculate, for each of the active consumers of FY2024-25 the amount to be recovered based on their actual energy consumption during FY2024-25. Such amount shall be recovered during FY 2026-27 in equal monthly instalments, to be called as 'FY25 True up Charges', commencing from the first meter reading date falling on or after 1 May 2026 and concluding with the reading date ending on 30 April 2027," the order said.
"It is further ordered that BESCOM shall maintain a separate head of account, allocated for the purpose, to record the adjustment of the said amount to ensure full recovery of the deficit," it added.
Similarly Chamundeshwari Electricity Supply Corporation Limited (CESC) has also recorded a revenue deficit of Rs 121.71 crore and can collect an additional 15 paisa per unit for consumption in 2024-25, official sources said.
