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Sunil Mehta panel incorporates 'Sashakt India AMC'
November 22 , 2018
2066 days
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- The Sunil Mehta committee has announced the formation of an asset management company (AMC) for resolving large bad loans.
- The name of the AMC is ‘Sashakt India Asset Management’.
- The committee is working on faster resolution of stressed assets in public sector banks.
- It was announced by the chairman of a bankers’ panel Sunil Mehta on the sidelines of a CII-CFO summit held in Mumbai.
- The company will follow a five-pronged strategy under the Project Sashakt to tackle stress in the banking sector.
- Under the project,
- The AMC will have an Alternate Investment Fund (AIF) to resolve Non-Performing Assets (NPAs) over Rs 500 crore.
- The AIF will be formed engaging various potential investors including private sector banks.
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