War on NPAs Union Ministry approves 'Sashakt' report; public sector banks to set up AMCs

NewsX 2018-07-04

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Union Finance Ministry has approved the five-pronged strategy submitted by Punjab National Bank Chairman Sunil Mehta to tackle the NPA menace. The report titled 'Sashakt' highlighted nine guiding principles aimed at the operational turnaround of the banking sector in a manner that will create jobs and enhance the value of public sector banks. The report recommended the resolution of bad assets below Rs 50 crore within 90 days.

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