The government is planning to float a fund that will invest in sunk loans held by lenders, minister of state for finance Jayant Sinha said on Tuesday, as the authorities strive to clean up balance sheets of banks.
"We are working towards a stressed assets fund, and need an efficient resolution and recovery process for banks for many of their stress assets," he told reporters on the sidelines of a conference organized by credit rating company Crisil in MUMBAI .
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