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This is the first time the Centre has taken recourse to this route on such a broad scale to ensure payment to power producers. Earlier, such restrictions were imposed on one or two defaulting states, and were removed quickly.

It would also be the largest deal by the Canadian pension fund - that has taken big bets in Indian toll roads, power utilities, among others - in the country till date.

The paper argued that while private sector lenders are more efficient in profit maximisation, public sector banks (PSBs) have done much better at promoting financial inclusion, delivering farm loans and achieving monetary transmission, which are key objectives of both the government and the RBI.

"The resolution plan in respect of the corporate debtor needs to be sent back to the CoC to consider the claims made by the class of operational creditors who are before us in the present batch of interlocutory applications," said a division bench of Rajasekhar VK and Balraj Joshi in its order of June 28.

U.S. crude inventories fell sharply as the nation exported a record 5 million barrels of oil a day in the most recent week, with oil companies finding heavy demand from European nations looking to replace crude from warring Russia.

Markets are leaning toward a half-point hike in September and a one-in-three chance of 75 basis points (bp). Rates are seen peaking at least 3.5%, though some Fed members are arguing for 4% or more. "There are no signs that the labour market or inflation data are slowing sufficiently for the Fed to declare victory on inflation," said Brian Martin, head of G3 economics at ANZ.

The Fed needs to keep raising borrowing costs to bring high inflation under control, a string of U.S. central bank officials said on Thursday, even as they debated how fast and how high to lift them.

The dollar is "smartly higher" with central bank officials "all making clear the Fed still has work to do raising rates," even as they differed on by how much, Ray Attrill, the head of currency strategy at National Australia Bank in Sydney, wrote in a client note.

The government hiked the windfall profit tax on the export of diesel to Rs 7 per litre and brought back a tax on jet fuel exports, but slashed the levy on domestically produced crude oil in line with softening rates.

Still, the rapid, aggressive moves by the central bank have started to have an impact, and while officials say the US economy should continue to expand in the second half of the year, "many expected that growth in economic activity would be at a below-trend pace," the minutes said.