01.06.2016 - To tackle NPAs: Indian SWF NIIF to Rescue
Union Minister of State (MoS) for Finance Jayant Sinha said the government is working towards the formation of a stressed assets fund which will be of a significant size to tackle the menace of non-performing assets (NPAs) in the banking system. Sinha further said other funds like the National Investment and Infrastructure Fund (NIIF) are also expected to pool in equity in the stressed asset funds. “We expect a variety of funds — distressed debt funds, special situations fund and NIIF — to participate in the equity investments in these stressed assets,” he said. India is also very close to launching the NIIF, India’s first sovereign wealth fund, with the junior finance minister indicating there has been a thorough search for the CEO position on a global scale..............................................Full Article: Source
Print