AMN
The Sunil Mehta committee which was formed with a view to tackle Non-Performing Assets (NPAs) and creating credit capacity submitted its report with recommendations to Finance Minister Piyush Goyal on Monday.
Briefing reporters in New Delhi, Mr Goyal said, the Sunil Mehta panel presented project ‘Sashakt’ and has recommended a five-pronged strategy to deal with stressed assets.
He said, the plan focuses on turning around assets in a manner that will create additional jobs by reviving businesses and prevent job losses from foreclosures.
He said, the plan will bring in credible long term external capital to limit the burden on the domestic banking sector.
Mr Goyal said, it will ensure a robust Governance and credit architecture is put in place to prevent similar build up of non performing loans in the future. He said, Government has brought transparency on the issue of NPAs.