Finance Minister Piyush Goyal unveiled 'Project Sashakt', a five-prong strategy to deal with non-performing assets.
Sashakt aims to strengthen the credit capacity, credit culture and credit portfolio of public sector banks.
Explaining the project, Goyal shed light on the guiding principles of an Asset Management Company resolution approach, under which an independent AMC would be set up to focus on asset turn around, job creation and protection.
He further noted that the independent body would be aligned with Insolvency and Bankruptcy Code (IBC) process and IBC laws.
