Service operators have sought a higher interchange fee for ATM transactions amid concerns over cash shortage in some parts of the country. This demand comes in the wake of a circular issued by the RBI on April 6.
The Calcutta bench of the National Company Law Tribunal has declared Vedanta as the successful resolution applicant for bankrupt Electrosteel Steels Ltd (ESL), overruling the objection of Renaissance Steel India Pvt Ltd, which plans to challenge the decision at the appellate tribunal.
A blame game has broken out after scores of ATMs ran dry across parts of the country with fingers being pointed at the Reserve Bank of India (RBI) for the cash crunch and the latter riposting that banks and ATM cash management firms had messed things up by failing to cope with the logistics of replenishing cash in these machines.
The lenders of bankrupt Binani Cement Ltd have justified their decision to back a lower financial offer from Dalmia Bharat, arguing they played by the rulebook to spurn a revised and higher offer from UltraTech Cement.
Analysts have cited multiple reasons for the sudden cash crisis - from the impending elections and the launch of the GST to a fear psychosis among people about sudden changes in government policy post demonetisation.