Rajnish Kumar, chairman of State Bank of India (SBI) said Sashakt is shaping up well and we are moving towards a National AMC.

“A lot of progress has been made and discussions are on with various interested stakeholders. So hopefully you will hear something very soon,” he said.

“In the AMC, you don’t need a huge amount of capital but when the funds are set up then you will need the capital,” he added.

“It has to be a diversified ownership not leave in the hands of a few but you need somebody to sponsor, you need a sponsor for any AMC,” said Kumar.

Speaking about resolution of identified stressed power assets, he further mentioned that, “There is a good progress, let us wait for a few days more.”

"We are making good progress on the resolution of identified stressed power assets and found resolution for all 7 power assets we had identified," he said.

First Published:Aug 20, 2018 3:21 PM IST