PrincipalG-bundles on nodal curves

LetG be a connected semisimple affine algebraic group defined over C. We study the relation between stable, semistable G-bundles on a nodal curveY and representations of the fundamental group ofY. This study is done by extending the notion of (generalized) parabolic vector bundles to principal G-bundles on the desingularizationC ofY and using the correspondence between them and principal G-bundles onY. We give an isomorphism of the stack of generalized parabolic bundles onC with a quotient stack associated to loop groups. We show that if G is simple and simply connected then the Picard group of the stack of principal G-bundles onY is isomorphic to ⊕_m Z,m being the number of components ofY.