With the steel ministry encouraging capacity enhancement in the domestic market to double per-capita consumption, lightening of companies debt burden is also a crucial requirement of the industry. Steel Secretary ARUNA SHARMA talks to Aditi Divekar about the ministrys plan to help the six most heavily indebted steel companies. Edited excerpts:
Whats the ministry doing to help the debt-burden domestic primary steel producers?
The steel ministry has already had discussions with chairmen of all banks and the finance minister on the direction of RBI (Reserve Bank of India). Accordingly, the central bank issued directions last week where a combination of SDR (strategic debt restructuring), S4A (Scheme for S…
Read the full article at: http://www.business-standard.com/article/economy-policy/rbi-has-issued-directions-to-help-debt-burden-steel-producers-arun-sharma-116112101251_1.html