trending Market Intelligence /marketintelligence/en/news-insights/trending/AfoOml3-Jv26ySkNxRMSbw2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

India proposes special bankruptcy regime for financial firms

Banking Essentials Newsletter December Edition Part 2

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery


India proposes special bankruptcy regime for financial firms

The government of India proposed a mechanism to handlebankruptcy in banks, insurers and other financial companies.

The draft bill seeks to establish a special resolutionregime for financial firms that will make it easier to end insolvent financial firmsthan current insolvency procedures, according to recommendations, releasedSept. 28, by the committee that created the proposal.

The bill will consolidate existing laws relating to theresolution of different financial institutions, such as banks and insurers,into a single legislation and offer additional tools of resolution to a newauthority called the Resolution Corporation, which will carry out speedyresolution of financial firms, provide deposit insurance to consumers, andprotect such consumers and public funds.