The transaction will be done on a “debt-free cash-free” basis, the companies said in their joint statement. It will give Bharti an additional 40 million subscribers.
Jaypee Infratech, Electrosteel Steels, Monnet Ispat, Alok Industries, ABG Shipyard and Jyoti Structures are also among the firms reportedly singled out.
The RBI said it has identified accounts which owe more than Rs 50 billion and in which at least 60% of the assets have been declared non-performing already.
The Reserve Bank of India last month allowed banks to make AT1 coupon payments from statutory reserves, a move analysts said was aimed at easing pressure on banks to service coupons on the bonds.