ZeeBiz Report Validated by Budget 2021; only channel to tell you about bad bank announcement

Budget 2021 – Zee Business was the only channel which informed the viewers about the likelihood of Bad Bank announcement getting a mention in the Budget 2021 speech. Managing Editor Anil Singhvi had earlier said that Finance Minister Nirmala Sitharaman could make some announcements regarding Bad Banks in this year’s Budget. In a big triumph, this news was validated today in the Budget.    

The Market Guru had said that the Finance Minister Nirmala Sitharaman in her Budget Speech could announce the formation of Bad Bank with some amount being mentioned .  

See Zee Business Live TV Streaming Below:

On this issue, this is what the Finance Minister Nirmala Sitharaman said. “The high level of provisioning by public sector banks of their stressed assets calls for measures to clean up the bank books.  An Asset Reconstruction Company Limited and Asset Management Company would be set up to consolidate and take over the existing stressed debt and then manage and dispose of the assets to Alternate Investment Funds and other potential investors for eventual value realisation.”. 

Watch Zee Business Tweet Video Below:

सिर्फ हमने बताया बजट में बैड बैंक का होगा ऐलान...

ज़ी बिज़नेस की खबर पर FM की लगी मुहर...

बजट में बैड बैंक का हुआ ऐलान...

बजट मतलब #ZeeBusiness...#BudgetOnZee #Budget2021 @AnilSinghvi_ pic.twitter.com/kbSQHjsKtt

— Zee Business (@ZeeBusiness) February 1, 2021

For all your budget related news, tune in to Zee Business. (#BudgetonZee) 

To further consolidate the financial capacity of PSBs, the FM announced a further recapitalisation of Rs 20,000 cr in 2021-22. 

Sitharaman, today presented the Union Budget 2021 where she announced other measures. She also said that the disinvestment of IDBI Bank will be completed in 2021-22.