| The government is looking to set up a special fund to tackle the issue of stressed assets. This is expected to be part of the National Investment and Infrastructure Fund (NIIF), which would be like India's sovereign wealth fund. Although banks are seeing a slowdown in growth of fresh non-performing assets (NPAs), they are grappling with a huge pile of bad debt due to problems in certain companies and some sectors such as metals, and inability of several infrastructure projects to take off.
In an interview, minister of state for finance Jayant Sinha told TOI that the proposed special situations fund will deal only with projects that are viable and can be nursed back to health..............................................Full Article: Source |