The banking
sector is grappling with a high volume of defaulted loans, a crisis that kept
the economy under sustained pressure.
To break this
cycle, the government is initiating the creation of specialized “Distressed
Asset Management Companies” (DAMCs) to purchase and manage defaulted and
written-off loans.
These
entities will handle loan restructuring, rescheduling, collateral seizure,
asset sales, and legal proceedings. They will also have the authority to
convert debt into equity...
