May 31, 2016 7:01 PM

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Govt keen to set up stressed assets fund to fight NPAs: Sinha

Union minister of State for Finance Jayant Sinha said that India is looking to start a "significant" fund that will invest in distressed loans held by lenders, as regulators strive to clean-up non-performing loans in the struggling sector. He further added that there are several players interested in investing in such a fund including the National Investment and Infrastructure Fund, special situation funds and smaller stressed asset funds.Sinha was speaking on the sidelines of an event by credit ratings agency CRISIL in the financial capital. The minister also counted the achievements of the government on the completion of its 2 years and said that it works on sab ka saaath sab ka vikas. He further said that the government is a pro poor government and works on the lines of ending poverty through its various initiatives.

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