Consortium of lenders invites bids to sell JBF Petrochem’s forex debt

A consortium of lenders led by IDBI Bank has invited bids by the end of this month to sell the foreign currency debt of JBF Petrochemicals worth $463.38 million (Rs 3,455.43 crore). The outstanding debt of JBF Petrochemicals includes $307.30 million in external commercial borrowing (ECB) and $156.08 million of foreign currency term loans (FCTL). The consortium […]

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Higher petrol, diesel consumption should prompt govt to cut fuel cess by Rs 4.50 a litre without impacting revenues: ICRA

A rise in petrol and diesel consumption can help the government slash cess on the fuels by Rs 4.50 a litre without impacting revenue collections of FY21, rating agency ICRA said. The reduced cess would also help cool off the pressure on inflation. Petrol consumption is estimated to increase by 14 per cent in 2021-22 […]

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