PTI
The Finance Ministry on Friday asked heads of public sector banks (PSBs) to monitor and review all cases, especially the top 20 Insolvency and Bankruptcy Code cases as part of the management of their bad assets.
During a meeting with managing directors and CEOs of public sector banks (PSBs), Financial Services Secretary Vivek Joshi asked them to review the top 20 cases monthly for their resolution.
Besides, he also asked them to monitor cases long pending for admission and resolution under the Insolvency and Bankruptcy Code (IBC).
During the meeting, banks also flagged the requirement for having a working collaboration amongst banks’ legal teams, the National E-Governance Services Limited (NeSL) and the Insolvency and Bankruptcy Board of India for swift, efficient and time-bound resolution.
