Govt asks PSBs to look for alternative resolution mechanism outside IBC

The Union government has directed public sector banks (PSBs) to look for an alternative resolution mechanism outside the Insolvency and Bankruptcy Code (IBC). The government has further told them to build “resilient credit risk control systems” for high-value loans, and has set a deadline of 45 days to decide upon consortium lending proposals. These measures are part of a second round of reforms under the Enhanced Access and Service Excellence programme, known as EASE 2.0, sent by the finance ministry to all PSBs. PSBs will be bound to follow EASE 2.0 because the 64-point mea.....

Key stories on are available to premium subscribers only.

Already a premium subscriber?

Subscribe to get an across device (Website, Mobile Web, Iphone, Ipad, and Android Phone applications) access to Premium content, Breaking News alerts, Industry Newsletters, Stock and Corporate news alerts, access to Archives and a lot more.