The Stressed Assets Stabilisation Fund (SASF) has sold a legacy stressed asset portfolio worth ₹6,151 crore to Omkara Asset Reconstruction Company, sources informed CNBC-TV18.

This transaction marks a pivotal step as SASF approaches the end of its 20-year operational cycle.

SASF was established as a special purpose vehicle (SPV) in the 2005-06 fiscal budget with the objective of acquiring and resolving the non-performing assets (NPAs) of IDBI Bank, initially amounting to ₹9,000 crore.

The sale of this asset portfolio comes at a critical time, coinciding with the planned divestment of IDBI Bank by the Government of India.

The sale is expected to streamline operations and enhance the asset recovery process as the government prepares for the bank’s divestment.

This is a developing copy