What: Sunil Mehta committee
Why: To tackle Non-Performing Assets
Whom: Finance Ministry
- The Sunil Mehta committee, which was formed with a view to tackle Non-Performing Assets (NPAs) and creating credit capacity submitted its report with recommendations to Finance Minister Piyush Goyal on July 2, 2018.
- As per the Union Finacne Minister, the panel presented project ‘Sashakt’ and has recommended a five-pronged strategy to deal with stressed assets.
- The plan focuses on turning around assets in a manner that will create additional jobs by reviving businesses and prevent job losses from foreclosures.
- The minister said that the plan will bring in credible long term external capital to limit the burden on the domestic banking sector.
- It will ensure a robust Governance and credit architecture is put in place to prevent similar build up of non performing loans in the future.
