It will take over large non-performing assets of banks and help in revive companies ridden with bad debts.
The Finance Ministry is considering a proposal to set up a National Asset Management Company that may act as a nodal agency for taking over bad loans of banks and help revive sick units.
The 'bad bank' -- which will help banks clear their balance sheets by transferring the NPAs to special purpose vehicles -- has been one of the most debated ideas for stressed asset resolution.
Suuti's merchant bankers give proposal; deal value could be Rs 2,800 crore
Expectations are that the government will use the Union Budget to create an environment, which is conducive for growth.
Low consumer demand, a slide in investments and troubles in the banking sector should prompt the government to recalibrate taxes and expenditure. It is also important to ramp up spending on health care and education, says CII president Sumit Mazumder.
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