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On June 8, finance minister Piyush Goyal had announced formation of a committee under the chairmanship of PNB non-executive chairman Sunil Mehta and the
SBI chairman and Bank of Baroda managing director PS Jayakumar as members. State Bank of India (SBI) chairman Rajnish Kumar, who is a member of the panel
formed to give recommendations for setting up a state-run bad bank, today said they will soon submit the report to the finance ministry. On June 8, finance
minister Piyush Goyal had announced the formation of a committee under the chairmanship of Punjab National Bank (PNB) non-executive chairman Sunil Mehta
and the SBI chairman and Bank of Baroda managing director PS Jayakumar as members. The minister gave the panel a fortnight to submit their report on the
feasibility of setting up an asset reconstruction company (ARC)/an asset management company (AMC) for faster resolution of bad loans. "We have crossed
the deadline but 99 per cent of the work is over. After giving some finishing touches, it will be presented to the finance ministry soon," Kumar told
reporters here after the bank's AGM here. Goyal had said the panel would consider whether such an arrangement will be good for the banking system that
is fighting its worst bad loan problem, and, if any such suggestion is advisable, it will also consider the modalities by which such an ARC/AMC should
be set up. Meanwhile, it has been learnt that SBI managing director B Sriram has resigned following his appointment as chief executive of the crippled
SBI chairman and Bank of Baroda managing director PS Jayakumar as members. State Bank of India (SBI) chairman Rajnish Kumar, who is a member of the panel
formed to give recommendations for setting up a state-run bad bank, today said they will soon submit the report to the finance ministry. On June 8, finance
minister Piyush Goyal had announced the formation of a committee under the chairmanship of Punjab National Bank (PNB) non-executive chairman Sunil Mehta
and the SBI chairman and Bank of Baroda managing director PS Jayakumar as members. The minister gave the panel a fortnight to submit their report on the
feasibility of setting up an asset reconstruction company (ARC)/an asset management company (AMC) for faster resolution of bad loans. "We have crossed
the deadline but 99 per cent of the work is over. After giving some finishing touches, it will be presented to the finance ministry soon," Kumar told
reporters here after the bank's AGM here. Goyal had said the panel would consider whether such an arrangement will be good for the banking system that
is fighting its worst bad loan problem, and, if any such suggestion is advisable, it will also consider the modalities by which such an ARC/AMC should
be set up. Meanwhile, it has been learnt that SBI managing director B Sriram has resigned following his appointment as chief executive of the crippled
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