Non-core asset monetization process being accelerated
The World Bank is to provide advisory services to the Department of Investment and Public Asset Management (DIPAM) monetization of the government CPSEs under strategic disinvestment or closure and enemy property.
The World Bank and DIPAM signed an agreement for this on 16 Nov 2020.
DIPAM is mandated with facilitating monetization of non-core assets of government CPSEs under strategic disinvestment or closure and enemy property of the value of Rs.100 crores and above.
DIPAM has a framework for monetizing non-core assets.
The World Bank advisory project, approved by the Finance Minister, is aimed at analyzing public asset monetization in India and benchmarking its institutional and business models against international best practices as well as supporting the development of operational guidelines and capacity building for their implementation.
It is expected that this project would facilitate and accelerate the non-core asset monetization process and help unlock the value of these unused and marginally used assets which has the potential to substantially augment financial resources for further investments and growth, said the Finance Ministry. #monetization #economy #banking #investment #diversification /fiinews.com