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Congress's 'remonetisation' bid? Party sets up new 'Assets and Properties' department

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The party aims to compile a comprehensive inventory of its assets and properties nationwide, including buildings, rental accommodations, and more. Furthermore, the Congress intends to monetise these assets.
The Indian National Congress has established a new "Assets and Properties Department" to manage and potentially monetize its extensive real estate holdings, which include properties like the iconic 24 Akbar Road in New Delhi. This move, termed as "remonetisation," aims to address the party's financial challenges by leveraging its assets, which are spread across various states and include both inherited and purchased properties. The initiative was spurred by the need to find new revenue streams following the freezing of some of the party's bank accounts due to a tax dispute. The department will be overseen by a senior leader, with a team of professionals to handle legal, financial, and property management aspects. This strategic shift is part of a broader effort to strengthen the party's financial position ahead of upcoming elections.

Read the Full cnbctv18 Article at:
[ https://www.cnbctv18.com/india/politics/congresss-remonetisation-bid-party-sets-up-new-assets-and-properties-department-19569350.htm ]