India’s plan to raise as much as $3.3 billion from selling a 10 percent stake in Coal India Ltd could be thrown off course by global investment banks under pressure from environmental groups to steer clear of the share sale. Several senior executives at foreign investment banks in Mumbai said ‘green’ concerns had clouded Coal India since its listing five years ago, and few were keen to take on a deal that could tarnish their public image. The pressure in a country where economic growth frequently trumps environmental concerns comes at a convenient time for banks. Many operating in India are under pressure to be more selective when it comes to roles that are heavy on staff but light on returns. The government pays a fee of just 1 rupee ($0.015). Banks’ reluctance, say people directly involved […]