MoF to meet PSB chiefs over IBC resolution delays

According to the IBBI data, 67% of the insolvency cases where the resolution process was ongoing until September 2023 have exceeded the 270-day time frame. Resolutions in another 13% of the cases went beyond 180 days but were still under 270 days. Earlier this month, the government told banks that their top executives should monitor large-value cases of bank fraud more closely and that bona fide credit decisions should be shielded from investigations.

from News-Economic Times https://ift.tt/N6oYaPz