MUMBAI: RBI deputy governor Swaminathan J said that legal changes to the insolvency and bankruptcy code must look at resolution of conglomerates. He also described the resolution of financial service providers as an ‘unfinished agenda’.
The deputy governor’s comments come on the heels of RBI governor Shaktikanta Das calling for reforms in the IBC to facilitate pre-packaged resolutions for corporations and address group resolutions. “There is the unfinished agenda of a comprehensive resolution framework for financial service providers such as banks, NBFCs and insurance companies,” said Swaminathan.
