Panel to take a call on asset reconstruction company for tackling bad loans

Finance Minister Piyush Goyal said all executive positions in public sector banks will be filled up within 30 days

Indian bankers wish to set up a mechanism for faster resolution of stressed accounts, Finance Minister Piyush Goyal said on Friday, emphasising the government was committed to giving full support to all 21 public sector banks.

A panel under Punjab National Bank chief Sunil Mehta will give recommendations in two weeks on the formation of asset reconstruction companies/asset management companies (ARCs/AMCs) to resolve the problem, he said in Mumbai after discussions with public sector bank heads.

Most stressed assets could fit into the ARC or AMC structure, he said, according to news agency PTI.

In the next 30 days, executive