Supreme court in September had cancelled allocation of 204 coal mines
Picture for representational purpose
New Delhi:Government informed Parliament on Tuesday that public sector banks may take a hit of Rs96,484 crore due to cancellation of coal blocks to power projects.“The impact of cancellation of coal block allotment on public sector banks due to likely stoppage of production of power plants is estimated at Rs96,484 crore,” minister of state for finance Jayant Sinha said in a written reply to a question in the Rajya Sabha.
The Supreme Court had in September cancelled allocation of 204 coal mines since 1993 to power plants and other user industries after finding their allotment irregular. “As per the information collected from public sector banks, the exposure of all PSBs to the power sector is Rs5,82,469 crore,” Mr Sinha said. In an another statement the minister said that the SIT, probing black money, will submit its second report to the Supreme Court by month end.
“The SIT has submitted its first report to the Supreme Court on August 13, 2014, and is likely to submit its second report on November 30, 2014,” he said. The minister said the government is providing all necessary assistance to SIT. SIT, constituted by the government on Supreme Court direction, has been given the responsibility and duty of investigation, initiation of proceedings and prosecution.
( Source : dc correspondent )
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