An asset reconstruction and management company will be set up for stressed assets of banks

New Delhi: The government on Monday said definition of small companies will be revised by raising capital base to Rs 2 crore from the current limit of Rs 50 lakh.

In the Union Budget for 2021-22, Finance Minister Nirmala Sitharaman proposed setting up of investor charter across financial products.

She said an asset reconstruction and management company will be set up for stressed assets of banks, while also stating that the National Company Law Tribunal (NCLT) framework will be strengthened.

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